Turnaround for Martin Shkreli
/We see a different Martin Shkreli from the one criticized for smirking during a congressional hearing on Capitol Hill in 2016. Shkreli ran Turing Pharmaceuticals when the company was accused of raising drug prices 5,000% in 2015. At the time, he was only 28 years old and was called "the most hated man in America."
Last week, Shkreli was sentenced to seven years in prison for fraud committed while he was a hedge fund manager and while running another drug company, Retrophin.
Shkreli pleaded for leniency. According to a CNBC report, he "broke down in tears." Another article summarizes his statements in court:
"The one person to blame for me being here today is me," a choked-up Shkreli told a judge before she imposed the prison term in Brooklyn, New York, federal court.
"Not the government. There is no conspiracy to take down Martin Shkreli."
"I took down Martin Shkreli with my disgraceful and shameful actions."
"This is my fault. I am no victim here," Shkreli said, before breaking down into tears as he promised not to let his lawyer Benjamin Brafman down in his efforts to contribute to society.
"Do not feel bad for me," Shkreli told a packed courtroom that included supporters and family members, many of whom had written letters asking Judge Kiyo Matsumoto to spare him from a harsh sentence.
And he had a message for the investors he duped: "I am terribly sorry I lost your trust. ... You deserve far better."
"I was never motivated by money," Shkreli said. "I wanted to grow my stature and my reputation."
"I am here because of my gross, stupid and negligent mistakes I made."
Discussion:
- Let's assume Shkreli's statements are sincere. How could you explain Shkreli's smirking in 2015 at such as serious hearing and his behavior more recently?
- Do you believe Shkreli's statements are sincere? Why or why not?
