Martin Shkreli Sentenced To 7 Years In Federal Prison

BYAlex Zidel13.6K Views
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Ex-pharmaceutical executive Martin Shkreli arrives at the U.S. District Court for the Eastern District of New York on the first day of his securities fraud trial on June 26, 2017
Martin Shkreli has officially received his prison sentence.

Everyone's favorite, or least favorite, "pharma-bro" has just received a fresh new sentence from the court. Days after the ex-pharmaceutical executive was ordered to give up the Wu-Tang Clan and Lil Wayne albums that he controversially held possession of, Shkreli has been sentenced to 7 years in federal prison. He was convicted on fraud charges last summer and, along with prison time, he will need to cough up $7.4 million in restitution to the victims of his fraud, according to TMZ.

Shkreli famously purchased the never-heard Wu-Tang Clan album Once Upon A Time In Shaolin for $2 million. He has also claimed that he owns Lil Wayne's unreleased Tha Carter V album, which he allegedly found in a Bugatti that he bought. If the ex-pharma exec is unable to pay up the money he owes, the feds have said that they will seize Shkreli's property. During the court hearing earlier today, Shkreli was emotional, saying, "I'm here because of my gross, stupid, negligent mistakes." The judge even offered him a box of tissues at one point before laying down the hammer on his sentence.

Martin Shkreli has been a controversial figure, becoming incredibly well-known amid his outrageous antics. As unsuspecting as it was for a pharmaceutical executive to become nearly a household name, his star will likely shrink due to his impending seven-year absence. Hopefully, we will finally get to hear the Wu-Tang and Weezy albums that we've been missing out on for so many years. 

About The Author
<b>Managing Editor</b> <!--BR--> Alex Zidel began working at HotNewHipHop as a Staff Writer in February 2018 before becoming the Managing Editor in June 2019. <strong>Favorite Hip Hop Artists:</strong> Kid Cudi, Kanye West, Young Thug, Frank Ocean.