Supreme Court Has Bad News for Martin Shkreli

Justices won't hear appeal of Pharma Bro
By John Johnson,  Newser Staff
Posted Nov 18, 2019 12:18 PM CST
Supreme Court Has Bad News for Martin Shkreli
In this Dec. 17, 2015, file photo, Martin Shkreli is escorted by law enforcement agents in New York after being taken into custody following a securities probe.   (AP Photo/Craig Ruttle, File)

The Supreme Court just squelched "Pharma Bro" Martin Shkreli's best hope of avoiding the bulk of his seven-year sentence for securities fraud. The court on Monday rejected Shkreli's request that it hear his appeal, reports CNBC. The 36-year-old began serving his sentence in 2018 and now will have to serve the full stretch—and forfeit about $7 million. "We’re obviously disappointed, and there’s not much more that I can add,” says attorney Mark Baker. He called the Supreme Court appeal a "long shot."

Shkreli first gained fame, or infamy, when he jacked the price of the drug Daraprim by 5,000% in 2015 while serving as CEO of the company Turing Pharmaceuticals. Shkreli was unapologetic about that move, but his prison sentence had nothing to do with that. Instead, he was convicted in 2017 of lying to investors about two hedge funds he ran, notes the Hill. (While in prison, Shkreli has spent time in solitary confinement and filed a $30 million lawsuit.)

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