Silver as an investment

Prosecutors Seek 15 Years In Prison For “Remorseless” Martin Shkreli

It appears that Martin Shkreli’s all too public contempt for the law – evidenced by his disregard for court orders pertaining to his communications with journalists and his snubbing of lawmakers during a Congressional hearing on drug prices – is about to catch up with him.

On Tuesday, US prosecutors recommended that Judge Kiyo Matsumoto sentence Shrkeli to at least 15 years in prison during his sentencing hearing on Friday, according to Reuters. Shkreli, who has been held in a Brooklyn jail since his bail was revoked last year, was also ordered to hand over a rare Wu-Tang Clan album that Shkreli paid $2 million for back in 2015 – part of a $7.4 million forfeiture ordered yesterday by a judge.

Shkreli

Previously Shkreli argued that he shouldn’t have to forfeit anything because he didn’t profit from the crimes. As was disclosed during the trial, the money from his investors went into the stock market, and he didn’t get anything from his plan to control Retrophin shares, his lawyers have said.

Prosecutors emphasized Shkreli’s “lack of remorse”, clearly ignoring the letter he penned to the Judge  last week begging for mercy and leniency.

In a filing in Brooklyn federal court, prosecutors called Shkreli “a man who stands before this court without any showing of genuine remorse, a man who has consistently chosen to put profit and the cultivation of a public image before all else, and a man who believes the ends always justify the means.”

Shkreli’s legal team, led by famed criminal defense attorney Benjamin Brafman, is asking for between 12 and 18 months.

Shkreli was convicted of three counts of securities and wire fraud during a trial that ended in August. Barring some last minute delay, the length of his prison stay will be announced some time on Friday afternoon.