Martin Shkreli's market manipulations will cost him nearly 10 and a half million dollars.
Martin Shkreli's villainous put-on may have finally lost its magic. The fact that he is facing jail time is now ultimately a foregone conclusion so its hard to feel any sensory expression when we hear his name.
Martin is alleged to have enabled a series of backdoor deals which undermined a pharmaceutical firm, for which he has been in jail since September. These charges are not linked to the now infamous Daraprim incident, in which Shkreli raised the price of an anti-infection medication by 5,000 percent.
With sentencing scheduled for scheduled for March 9, the judge has made a final ruling on the settlement costs. A whopping 10.4 million is going to investors who were duped by Shkreli. Benjamin Brafman, a member of Shkreli's legal team has since expressed disapointment over the ruling.
"(We are) disappointed by the ruling but still hopeful that the court will find it in her heart to impose a reasonably lenient sentence.”
Shkreli is facing an upwards of 20 years incarceration. Stay tuned for the verdict in two weeks.