‘Most hated man’ gets seven years in jail for defrauding investorsNEW YORK: Martin Shkreli, once dubbed the most hated man in America for ratcheting up the price of an HIV drug, was sentenced to seven years in prison Friday on charges of defrauding investors. The disgraced former pharmaceutical executive and hedge fund manager was convicted in August of conspiracy to commit securities fraud and two counts of securities fraud. He smirked through a congressional hearing that scrutinized his actions and has since earned a reputation for an extravagant, self-publicizing lifestyle. On Monday, Matsumoto ordered Shkreli to pay back $7.36 million to federal authorities, an amount they can recover by seizing his assets. The verdict left Brafman suggesting that Shkreli might even avoid jail time.

Source: New Strait Times March 10, 2018 00:33 UTC