Martin Shkreli Gets 7 Years for Securities Fraud

A federal judge sentenced former Turing Pharmaceuticals CEO Martin Shkreli to seven years in prison for defrauding investors.

Shkreli, who infamously raised the price of an HIV drug by 5,000 percent in 2015, was convicted in 2017 for defrauding investors in his hedge funds. According to prosecutors, Shkreli misrepresented losses to his investors and took money and stock from his drug company Retrorphin to cover the losses.

U.S. District Judge Kiyo Matsuomoto has previously ordered Shkreli to forfeit over $7 million in addition to the prison sentence. At his sentencing, she ordered him to pay an additional $75,000 fine.