‘Pharma Bro’ Martin Shkreli sentenced to 7 years in prison for fraud

Posted at 12:11 PM, Mar 09, 2018
and last updated 2018-03-09 14:37:18-05

Martin Shkreli was sentenced to seven years in prison on Friday for defrauding investors.

Shkreli, who gained notoriety for inflating the price of a life-saving drug, had faced up to 20 years behind bars for mismanaging money at three hedge funds.

Federal prosecutors said he cheated investors out of more than $11 million between 2009 and 2014 in what amounted to a Ponzi scheme.