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Shkreli Stays in Jail; Infamous Ex-Pharma CEO Quickly Loses Appeal

posted by Fnord666 on Monday July 22 2019, @11:39AM   Printer-friendly
from the swift-judgement dept.

"upstart" writes:

Submitted via IRC for SoyCow1984

Shkreli stays in jail; Infamous ex-pharma CEO quickly loses appeal

In a swift 3-0 vote Thursday, a panel of judges in a New York federal appeals court upheld the August 2017 conviction of Martin Shkreli. The infamous ex-pharmaceutical CEO is currently serving a seven-year prison sentence for fraud stemming from what prosecutors had described as a Ponzi-like scheme.

Shkreli, 36, must continue to serve his sentence and also still forfeit more than $7.3 million in assets, the judges affirmed.

The judges' ruling came just three weeks after hearing arguments in the appeal—rather than the normal period of months, Bloomberg notes. The ruling was also an unusually short seven pages.

In it, the panel rejected Shkreli's argument that the judge in his trial, US District Judge Kiyo Matsumoto, confused jurors with the wording of some of their instructions on how to deliberate the case.

"The instruction given here correctly stated the law," the panel said in its decision. "As such, we disagree with Shkreli that exclusion of additional language describing an element not required for the charged crime constituted a prejudicial error."

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  • (Score: 2) by takyon on Monday July 22 2019, @12:00PM (8 children)

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Monday July 22 2019, @12:00PM (#869901) Journal

    Seven years in prison and a big loss of cash won't be helpful to his social media presence [usatoday.com]. Of course, he could take pointers from O.J. Simpson [twitter.com], who is killing it on Twitter rn.

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  • (Score: 3, Touché) by ikanreed on Monday July 22 2019, @01:05PM (2 children)

    by ikanreed (3164) Subscriber Badge on Monday July 22 2019, @01:05PM (#869915) Journal

    where "it" is his ex wife.

  • (Score: 3, Insightful) by DannyB on Monday July 22 2019, @01:31PM

    by DannyB (5839) Subscriber Badge on Monday July 22 2019, @01:31PM (#869930) Journal

    Maybe a condition of his release is not to have any social media.

    Getting released at all could be premised on the condition that the "soul detection meter" have at least some bit of needle movement from the zero position.

    --
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  • (Score: 0) by Anonymous Coward on Monday July 22 2019, @03:14PM (2 children)

    by Anonymous Coward on Monday July 22 2019, @03:14PM (#869975)

    Don't you mean O.J.'s ///\\\\\\\\\\\\\./// website?

  • (Score: 3, Informative) by stretch611 on Monday July 22 2019, @08:08PM

    by stretch611 (6199) on Monday July 22 2019, @08:08PM (#870061)

    Seven years in prison and a big loss of cash...

    I'm still not going to shed any tears for this asshat.

    According to https://fortune.com/2018/03/09/martin-shkreli-net-worth-sentencing/ [fortune.com] :

    Martin Shkreli’s net worth is more than $27.1 million, according to court filings leading up to his sentencing. And Shkreli’s worth that much even after accounting for “outstanding federal and state tax liabilities, judgments and legal fees,” the legal documents showed.

    So this asshat is still worth enough that he will never need to work a day again in his life. He still has enough assets to leverage a comeback one he leaves prison. And mind you, His assets are probably in some type of managed investment account so that it is compounding interest while he is sitting in jail and has probably grown significantly since his sentencing.

    A $7.3million fine, while a significant portion of his assets (a little over 25%) is not really going to change his attitude or habits once he is released.

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