‘Pharma Bro’ sentenced to 7 years in prison

FILE - In this Dec. 17, 2015 file photo, Martin Shkreli, the former hedge fund manager under fire for buying a pharmaceutical company and ratcheting up the price of a life-saving drug, is escorted by law enforcement agents in New York after being taken into custody following a securities probe. Shkreli has resigned as the head of one of the companies he now runs, Turing Pharmaceuticals, on Friday, Dec. 18, 2015.(AP Photo/Craig Ruttle)

NEW YORK (AP) – The self-promoting “Pharma Bro” vilified for jacking up the price of a lifesaving drug has been sentenced to prison for securities fraud.

Pharmaceutical executive Martin Shkreli was sentenced Friday to seven years in prison by U.S. District Judge Kiyo Matsumoto after he was convicted last year of lying to investors in two failed hedge funds.

Shkreli cried as he told the judge that he made many mistakes and he apologized to investors.

His attorney argued that he deserved 18 months or less and shouldn’t be punished for being outspoken. The judge says she did not take his outside actions into account.

Shkreli had been free on bail until a judge jailed him for offering a $5,000 bounty to anyone who could get a lock of Hillary Clinton’s hair last year.

He remains in custody.

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