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Martin Shkreli: 'Pharma bro' sentenced to seven years in prison

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Posted at 12:08 PM, Mar 09, 2018
and last updated 2018-03-09 14:22:42-05

Martin Shkreli was sentenced to seven years in prison on Friday for defrauding investors out of more than $10 million.

Shkreli, who gained notoriety for inflating the price of a life-saving drug, had faced up to 20 years behind bars for mismanaging money at three hedge funds.

He was convicted on August 5, 2017 of securities fraud and conspiracy in what prosecutors said amounted to a Ponzi scheme. Shkreli called the charges "a witch hunt of epic proportions."

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