Prison-bound Martin Shkreli hurt Wu-Tang album sales price, analyst says

Martin Shkreli

Prison-bound Martin Shkreli hurt Wu-Tang album sales price, analyst says

He also said: "The only person to blame for me being here today is me".

Now, a judge has sentenced him to seven years in prison for "defrauding investors in two failed hedge funds".

"This case is not about Mr. Shkreli's self-cultivated public persona ... nor his controversial statements about politics or culture", Matsumoto said.

His lawyers had asked the judge to impose a sentence of 12 to 18 months, while prosecutors were seeking at least 15 years.

Prosecutors have already moved to seize $7.4m of Shkreli's assets, including the only existing copy of an album by United States hip hop group the Wu-Tang Clan, Once Upon A Shaolin, for which he reportedly paid $2m at auction in 2015.

"He wants everyone to believe he is a genius, a whizz kid, a self-taught biotech wonder", said prosecutor Jacquelyn Kasulis.

Brafman says that sometimes he wants to hug Shkreli, and sometimes he wants to punch him in the face.

A judge must weigh whether the pharmaceutical company CEO is a manipulator who conned wealthy investors or a misunderstood eccentric who made those same investors even wealthier.

Before the sentencing, Brafman told Matsumoto that Shkreli, 34, suffered from depression and an anxiety disorder and was a "somewhat broken" person, whom the government wanted to "throw away".

Shkreli was convicted of defrauding a group of investors in two hedge funds he controlled by having claimed, among other things, that the funds were delivering healthy returns at a time when they were actually losing money, CNBC reported.

The mainstream pharma industry has distanced itself from the actions of Shkreli, who used to be famous for his arrogance and egotism when criticised about his actions in interviews. He received widespread criticism in 2015 after he raised the price of the HIV-AIDS drug Daraprim by a factor of 56 (from $13.50US to $750US). After his arrest in December 2015, he taunted prosecutors, got kicked off of Twitter for harassing a female journalist, heckled Hillary Clinton from the sidewalk outside her daughter's home, gave speeches with the conservative provocateur Milo Yiannopoulos and spent countless hours livestreaming himself from his apartment.

Before sentencing him, the judge said that it was up to Congress to fix the issue of the drug price hike. Shkreli insisted it was a joke. Afterward, he tweeted that the lawmakers were "imbeciles". Shkreli's family didn't comment.

In a letter sent last week to the judge, Shkreli pleaded for leniency and for the first time admitted he had erred.

Another supporter said Shkreli's soft side was demonstrated when he adopted a cat from a shelter - named Trashy - that became a fixture on his live streams. With a choking voice, he reiterated in court his remorse at the "shameful actions" that led to his downfall.

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