Let’s take a look at “Why Did Martin Shkreli Go To Jail?” Martin Shkreli is a pharma boss who was known for increasing the price of an HIV-related drug which he hiked up by 5,000 percent.
Martin, a previous hedge fund manager from the United States, has a criminal record. Shkreli founded the hedge funds Elea Capital, MSMB Capital Management, & MSMB Healthcare. He also founded the pharmaceutical company Retrophin and served as its former CEO.
When Turing got the manufacturing permit for the antiparasitic medicine Daraprim and increased its price by 5,455 percent in September 2015, Shkreli came under heavy fire.
Why Did Martin Shkreli Go To Jail?
Martin, a brash pharmaceutical CEO who faced vehement condemnation for overcharging essential medications, was detained in 2015. Shkreli’s situation has received so much attention as a result of his obstinate price-hiking and his own history of rising from the bottom.
The 32-year-old has achieved a unique degree of notoriety for his brashness in both his professional and personal lives, but the charges against him have nothing to do with the growing cost of prescription drugs.
He is charged with routinely defrauding investors of their money while lying to them, as well as for forcibly removing the property from one of his firms to settle debts in another.
Before 6:30 a.m., Federal Bureau of Investigation agents detained Shkreli at his residence in Midtown Manhattan and forced him to pass past a crowd of photographers surrounding FBI headquarters.
In addition to Shkreli, Evan Greebel, a New York attorney who is accused in the federal indictment of aiding Shkreli in his scams, was detained and prosecuted. He entered a not guilty plea and was released on a $1 million bail, much like Shkreli. Following their court appearance, both men and their attorneys declined to comment.
Where Is Martin Shkreli Today?
As per The Associated Press, former pharmaceutical CEO Martin Shkreli was freed from jail on Wednesday after completing the majority of his seven-year sentence for misleading hedge fund investors and scamming drug business investors.
Shkreli, 39, was sent to a halfway house run by the New York Domestic Reentry Management Office of the Federal Bureau of Prisons after being released from an Allenwood, Pennsylvania jail, according to the AP. His expected release date is September 14, according to the agency.
That's rich! 'Pharma Bro' Martin Shkreli launches Substack newsletter where he slams billionaire Mark Cuban's online pharmacy for not being transparent in its pricing … after he inflated the price of life-saving drug to $750 a pill from $13.50 https://t.co/Mz8YOYsWyf
— @QueenB_wiov Deborah R Culver (@queenb_wiov) June 28, 2022
After serving little more than four years of his sentence, Shkreli was released after completing education & rehabilitation programs.
After being found guilty in 2017 of two charges of securities fraud & one count of conspiracy to conduct securities fraud, Shkreli was given a seven-year sentence. The AP said that he was also told to forfeit $7.3 million.
Who Is Martin Shkreli Wife?
Martin is not currently married to anyone and appears to be single. However, one of his ex-girlfriends with the name Christie Smythe has come forward to talk about her relationship with the pharma boss.
Martin Shkreli was the reviled ‘pharma bro’ hedge funder who inflated the price of life-saving drugs and was jailed for fraud. @ChristieSmythe was the reporter who quit her marriage and job for him.
Why? @LFPullman finds out ?https://t.co/jzzARUorbR
— The Sunday Times (@thesundaytimes) June 26, 2022
Christie Smythe, the former journalist who abandoned her husband and work for “Pharma Bro” Martin Shkreli, said that she skipped her first marriage therapy appointment to see the convicted criminal behind bars, even as she slammed those who had criticized her ex-lover.
Smythe & Shkreli, both 39, got to know one another in 2015 when she was tasked with covering him for Bloomberg News.
