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

‘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.