Martin Shkreli has finally found out his punishment for conspiring to commit fraud and manipulate stock shares. Seven years behind bars. CNBC (@cnbc) reported that the once arrogant man who became known as The Pharma Bro, and carried himself as if he was “hood” and “built for this”, cried as he was sentenced, just like you knew he would.
“The one person I have to blame for me being here today is me” Shkreli managed to get out of his mouth in between sobs. “Not the government. There is no conspiracy to take down Martin Shkreli. I took down Martin Shkreli with my disgraceful actions. This is my fault. I am no victim here.”
Shkreli also took a moment to address anyone who may have been duped by his shady dealings. “I was never motivated by money. I wanted to grow my stature and reputation. I am here because of my gross, stupid and negligent mistakes I made.”
Shkreli’s pleas may have had some effect on his sentencing….or the judge at least took his pleas into consideration upon sentencing. Shkreli’s low sentencing guidelines called for a prison sentence of 18 months. The high called for a 15-year prison sentence. The high end of the guidelines was what prosecutors called for. Judge Kiyo Matsumoto sentenced Skhreli to 7 years. About half of what was recommended by prosecutors. Judges usually go with the recommendation of the prosecutors when considering sentencing for defendants. Judge Matsumoto said she struggled with what sentence to give Shkreli. She ultimately took Shkreli’s upbringing into account. His abusive father. His problem with panic attacks. His charitable contributions to groups and organizations. Blah….blah…blah. I’ve never heard a judge take anything into consideration when sentencing me, other than the sentencing guidelines. But then again….I’m not Martin Shkreli. It must be good to be Martin Shkreli. The crazy thing is that he probably doesn’t even realize how big of a break he caught. He’s likely too busy sitting in his cell crying right now. On a 7-year federal prison sentence, Shkreli could cut as much as 18-months off of the tab even though the Feds don’t have parole. He will earn at least six months good time on a 7-year sentence just for staying out of trouble. And if he can get into a drug treatment program (which he probably will) he can shave up to another year off of the sentence. Also, being sentenced to more than a 5-year prison term makes you eligible for maximum halfway house time (6 months). If things go his way, Skreli could be out in 5 years and a little change. Not a bad punishment for defrauding folks out of millions of dollars. Don’t you agree? The sweetener, is that if Shkreli has no previous record, he will probably serve his time in a prison camp, considering that fraud is not considered a violent crime. Prison camp is where some non-violent offenders are sent to do their time. So, if you thought Shkreli was going to have a tough go at it in a rough prison or even the penetintiary, think again. Prison camp is exactly what it sounds like…..camp. Oh yeah, I almost forgot, Shkreli will also receive credit for the six months he’s already sat behind bars after violating the terms of his probation.