Martin Shkreli sentenced to 7 year jail for investor fraud

Martin Shkreli, who gained notoriety for dramatically increasing the price of a life-saving pill, has been sentenced to seven years in prison and a $US75,000($A105,000) fine for defrauding investors.

US District Judge Kiyo Matsumoto set the sentence, which was significantly longer than the 12 to 18 month sentence Shkreli’s lawyers were seeking but still shorter than the 15 years the prosecution wanted.

Shkreli tearfully accepted responsibility for his actions, saying he was to blame.

“The one person to blame for me being here today is me. 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.”

Ms Matsumoto noted before her sentencing that Shkreli had a tough upbringing, suffering an abusive father and panic attacks, but also his history of threatening to make a former employee and his family homeless, and long running financial deceptions.

Shkreli, who has forfeited $US7.4 million ($A9.4 million) to the US government, will have the six months he has already served credited to his sentence, and will face three years’ probation upon release.

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