Martin Shkreli Sentenced to 7 Years in Prison
Martin Shkreli, the controversial “pharma bro” who owns Wu-Tang Clan’s one-of-a-kind album Once Upon a Time in Shaolin, has been sentenced to seven years in prison after he was found guilty of defrauding investors, according to the Washington Post.
Shkreli, 34, reportedly cried while asking for forgiveness and mercy before hearing the verdict. He earned less time than what prosecutors were asking for (15 years) and more than what his attorneys had requested (12-18 months). He will be given six months credit for time served.
Earlier this week, U.S. District Judge Kiyo Matsumoto ruled that Shkreli has to forfeit more than $7 million. Many believe this could force him to relinquish his possession of the Wu-Tang Clan LP, which he reportedly purchased for $2 million in 2015.
Shkreli has been heavily criticized for the fact that he once raised the price of an AIDS drug by 5,000 percent. He then became known in hip-hop circles due to his fandom of Wu-Tang Clan, beef with Ghostface Killah, and his reported purchase of Lil Wayne’s Tha Carter V, which has yet to be released to the public. Weezy has threatened to sue him for leaking portions of the effort.
Prior to receiving his sentence, Shkreli wrote a letter to the judge. “I accept the fact that I made serious mistakes,” he wrote, “but I still believe that I am a good person with much potential.”