Tags: martin shkreli | pharma bro | drugs | prison

'Pharma Bro' Arrives at Low-Security Federal Prison

'Pharma Bro' Arrives at Low-Security Federal Prison
In this file photo, former hedge fund manager Martin Shkreli is escorted by law enforcement agents after being taken into custody following a securities probe. (Photo: AP/Craig Ruttle)

Thursday, 19 April 2018 07:24 AM

The pharmaceutical-industry entrepreneur vilified for jacking up the price of a life-saving drug has been placed in a low-security federal prison in New Jersey.

Martin Shkreli was moved Tuesday from the Brooklyn Metropolitan Detention Center in New York to the Federal Correctional Institution at Fort Dix. According to its handbook , there are no bars, towers, or locks on rooms. Inmates must demonstrate a high degree of responsibility, and "the expectations are that each inmate will comply."

Shkreli, who was dubbed "Pharma Bro" for his loutish behavior, was sentenced last month to seven years in prison for securities fraud. He was also fined $75,000.

The 35-year-old Shkreli was found guilty in August of lying to investors in two failed hedge funds and cheating them out of millions.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Newsfront
The pharmaceutical-industry entrepreneur vilified for jacking up the price of a life-saving drug has been placed in a low-security federal prison in New Jersey.
martin shkreli, pharma bro, drugs, prison
127
2018-24-19
Thursday, 19 April 2018 07:24 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved