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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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His early release reflects good behavior and completion of rehabilitation programs
Infamous ex-pharmaceutical executive Martin Shkreli has been released from federal prison after serving less than five years of a seven-year sentence for a securities and wire fraud conviction. He is now moving into a US Bureau of Prisons halfway house at an undisclosed location in New York until September 14, 2022.
Shkreli was convicted in August 2017 on two counts of securities fraud and one count of conspiracy to commit securities fraud in connection to what federal prosecutors called a Ponzi-like scheme involving two hedge funds Shkreli managed. In March 2018, a federal judge sentenced him to seven years, which he was serving in minimum security federal prison in Allenwood, Pennsylvania.
His early release—slightly more than four years after his sentencing—reflects time shaved off for good behavior in prison, plus completion of education and rehabilitation programs, according to CNBC. It also includes a credit for the roughly six months he spent in jail prior to his sentencing.
Previously on SoylentNews:
United States Sells Unique Wu-Tang Clan Album Forfeited by Martin Shkreli
Judge Denies Shkreli's "Delusional Self-Aggrandizing" Plea to Get Out of Jail
Shkreli Stays in Jail; Infamous Ex-Pharma CEO Quickly Loses Appeal
Martin Shkreli Accused of Running Business From Prison With a Smuggled Smartphone
Sobbing Martin Shkreli Sentenced to 7 Years in Prison for Defrauding Investors
Britain Fines Pfizer Record £84.2m for 2600% Drug Price Hike
Daraprim Price Lowered in Response to Outrage
Cost of Daraprim Medication Raised by Over 50 Times
(Score: 2) by takyon on Monday July 22 2019, @12:00PM (8 children)
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.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 3, Touché) by ikanreed on Monday July 22 2019, @01:05PM (2 children)
where "it" is his ex wife.
(Score: 2) by takyon on Monday July 22 2019, @01:08PM (1 child)
Double jeopardy, bro.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by ikanreed on Monday July 22 2019, @02:00PM
Hey, I'm not saying we should convict him of that crime he did.
(Score: 3, Insightful) by DannyB on Monday July 22 2019, @01:31PM
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.
To transfer files: right-click on file, pick Copy. Unplug mouse, plug mouse into other computer. Right-click, paste.
(Score: 0) by Anonymous Coward on Monday July 22 2019, @03:14PM (2 children)
Don't you mean O.J.'s ///\\\\\\\\\\\\\./// website?
(Score: 2) by takyon on Monday July 22 2019, @03:47PM
🔪🔪🔪🔪
🔪🔪🔪🔪
🔪🔪🔪🔪
🔪🔪🔪🔪
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by stretch611 on Monday July 22 2019, @08:10PM
He has had a ton of practice with slashes and back-slashes.
Now with 5 covid vaccine shots/boosters altering my DNA :P
(Score: 3, Informative) by stretch611 on Monday July 22 2019, @08:08PM
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] :
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.
Now with 5 covid vaccine shots/boosters altering my DNA :P
(Score: 2) by Rupert Pupnick on Monday July 22 2019, @02:07PM (7 children)
Who is the most prominent and widely followed user of social media whom SN readers actually trust?
Just wondering...
(Score: 0) by Anonymous Coward on Monday July 22 2019, @02:13PM (3 children)
https://twitter.com/NickRekieta [twitter.com]
(Score: 0) by Anonymous Coward on Monday July 22 2019, @02:29PM (2 children)
#403:"The server understood the request, but is refusing to fulfill it."
(Score: 3, Funny) by DannyB on Monday July 22 2019, @06:43PM
So #403 is like the French? They understand our language, but refuse to speak to us in it.
To transfer files: right-click on file, pick Copy. Unplug mouse, plug mouse into other computer. Right-click, paste.
(Score: 2) by FatPhil on Monday July 22 2019, @09:22PM
[yes]
WFM.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 3, Funny) by Anonymous Coward on Monday July 22 2019, @02:35PM
https://twitter.com/realdonaldtrump [twitter.com]
(Score: 1, Funny) by Anonymous Coward on Monday July 22 2019, @04:23PM
https://twitter.com/DevinCow [twitter.com]
(Score: 2) by Rupert Pupnick on Monday July 22 2019, @05:21PM
Not a single pseudonym among the Anonymous Cowards, I note.
(Score: -1, Flamebait) by Anonymous Coward on Monday July 22 2019, @03:08PM (1 child)
The poor Shkreli* offered $5000 for a hair from Hillary Clinton. He also spoke about the disease Hillary has on his Youtube channel. He is another victim of the clinton lizards. Being more high profile spared him a quick death by the clintons, but he will have to spend many years behind bars.
Why don't you Americans just hang the clintons and get it over with?
-
*poor Shkreli, because the perpetrators of the 2008 financial crash were rewarded with taxpayer money while Shkreli barely showed up on the fraud radar.
(Score: 5, Funny) by DannyB on Monday July 22 2019, @06:39PM
I've heard Trump speeches that were more coherent than that.
To transfer files: right-click on file, pick Copy. Unplug mouse, plug mouse into other computer. Right-click, paste.
(Score: 0) by Anonymous Coward on Monday July 22 2019, @04:34PM (6 children)
How peculiar, trying to limit his communication with his company so it would eventually tank and be bought for peanuts.
(Score: 1, Insightful) by Anonymous Coward on Monday July 22 2019, @04:36PM (4 children)
You wanna trigger the local MAGAs? Cause any mention of the name "Clinton" gets them more riled up than Hitler youth finding a gay teen.
(Score: 0) by Anonymous Coward on Monday July 22 2019, @04:39PM (3 children)
Woops, that reply was meant for the "Shkreli and the Clintons" shitpost. Those Russians sure know how to play stupid Americans !
(Score: 3, Funny) by DannyB on Monday July 22 2019, @06:17PM
Is "Stupid Americans" a board game I can get at Target?
How is the game played? Does it come with small plastic game pieces that get lost?
To transfer files: right-click on file, pick Copy. Unplug mouse, plug mouse into other computer. Right-click, paste.
(Score: 0) by Anonymous Coward on Monday July 22 2019, @09:20PM (1 child)
Can you at least log in and remove the up mod you gave your AC comment, since you posted it to the wrong thread?
(Score: 0) by Anonymous Coward on Tuesday July 23 2019, @01:13AM
I'm not one of the sock puppeteers sorry. Just be happy I bothered to reply and clarify.
(Score: 0) by Anonymous Coward on Tuesday July 23 2019, @12:38AM
Absolute SOP. The Bureau of Prisons flatly forbids running a business from inside. There are some things in the rules that you can get permission to do from the warden but that's not one of them. I've never heard of them making an exception.