Shkreli sentenced to 7 years in prison for fraud

Former pharmaceutical executive Martin Shkreli was sentenced Friday to 7 years in prison after being convicted of fraud in 2017. Shkreli, 34, gained notoriety for raising the price of pyrimethamine (Daraprim—now Vyera Pharmaceuticals) by 5,000% as well as a number of social media stunts.

Former pharmaceutical executive Martin Shkreli was sentenced Friday to 7 years in prison after being convicted of fraud in 2017. Shkreli, 34, gained notoriety for raising the price of pyrimethamine (Daraprim—now Vyera Pharmaceuticals) by 5,000% as well as a number of social media stunts. However, his fraud convictions stemmed from his involvement with Retrophin, a drug company he founded in 2011 and two hedge funds he ran. A jury convicted Shkreli last August on three of eight counts, holding that he had lied to investors about how the hedge funds were managed, what they invested in, and how much money they held. The jury also concluded that he had secretly controlled a large number of shares of Retrophin. During the sentencing, Judge Kiyo A. Matsumoto of federal District Court noted Shkreli's "egregious multitude of lies," adding that while he seemed remorseful, he "repeatedly minimized" his actions, including in statements and emails sent following his conviction.