Martin Shkreli nicknamed Pharma Bro has been released from jail early after he completed all the required programs his lawyer confirmed.
He was previously sentenced to a seven-year sentence in 2017 but has now been moved to a halfway house and could be freed completely in September of 2022.
What was Martin Shkreli convicted for?
The former hedge fund manager was charged and convicted of securities fraud. Investigations revealed that during Martin Shkreli’s tenure as manager at MSMB Capital Management and Retrophin it was run like a Ponzi Scheme with the intent of ensnaring investors.
Why is Martin Shkreli called Pharma Bro?
Martin Shkreli gained notoriety for sanctioning extreme price hikes of life-saving medicine.
It was revealed during the trial that the company he ran raised the price of the long-established drug Daraprim which is used to treat parasitic infections, from about 14 dollars to over 700 dollars. This earned him the name Pharma Bro.
