Shkreli, currently serving a seven-year sentence at the federal correctional institution in Allenwood, Pennsylvania, for a securities fraud conviction, has been banned for life from the pharmaceutical industry, according to a federal judge’s order.
Moreover, he must return $64.6 million, profits he made from increasing the price of the life-saving medication Daraprim by over 4000 percent, from $17.50 to $750.00 a pill. Daraprim treats the parasite infection toxoplasmosis in people with HIV.
The case against Shkreli and his former company, Vyera Pharmaceuticals (previously Turing), was brought by the Federal Trade Commission and seven states. Money from the verdict will be distributed to victims nationwide, according to the judgment.
Manhattan Federal Court Judge Denise Cote said that Shkreli “was the mastermind of [the company’s] illegal conduct and the person principally responsible for it throughout the years.”
Shkreli’s current stint in prison is for other offenses that predate his time as the showboating “Pharma Bro” who was eventually booted off of Twitter after harassing female journalists. Jury selection in his trial was complicated by his public demeanor. An individual known only as Juror No. 59 was dismissed by the court, for example, after letting it be known that he could not be unbiased toward Shkreli because “he disrespected the Wu-Tang Clan.”
Shkreli won Once Upon A Time In Shaolin, Wu-Tang Clan’s one-of-a-kind album recorded in secret, at an auction in 2015. The group, looking to resurrect a “patronage” concept, stipulated that the new owner could not exploit the work for personal gain but could share it at listening parties. When Shkreli was still on social media, he regularly bragged about owning it. “I’ll probably never even hear it. I just thought it would be funny to keep it from people,” he once said.
Shkreli was forced to turn the album over to the U.S. government after his conviction. Uncle Sam then sold it to a group called PleasrDAO, investors in crypto and NFTs. Jokes on them though, as the Wu-Tang Clan created a physical—and fungible—item. “This is like somebody having the scepter of an Egyptian king,” as RZA described it.
In 2019, it was reported that Shkreli was still illicitly running his company from prison.
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