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Martin Shkreli released from federal prison into halfway house


Martin Shkreli is a former executive in pharmaceuticals and he leaves the U.S. District Court, Eastern District of New York. This happened on August 3, 2017, at the Brooklyn borough.

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Martin Shkreli, a well-known “Pharma bro”, fraudster, was released on Wednesday from a Pennsylvania federal jail and moved to a U.S. Bureau of Prisons halfwayhouse in an undisclosed New York address in order to finish his criminal sentence.

As a nod to Shkreli’s days as one of the most popular trolls on Twitter at the time, his friend tweeted a photo showing him and Shkreli together, in which he was seen smiling in the car. He added the caption “Picked up that guy hitchhiking.” It says he’s well-known.

He was wearing a shirt with the photo of Shkreli in smirking while giving testimony to Congress and underneath were the words, “Free Shkreli.”

Shkreli was 39 years old and a New York City native who was convicted for securities fraud in 2017. He was released from Allenwood Federal Correctional Institution on Sept. 14.

Shkreli was sentenced in March 2018 to seven years imprisonment. He was released slightly over four years later than his sentencing. This is due to the credit that he earned for being good in prison and for having completed education and rehabilitation while in jail.

This is also due to the fact Shkreli had already spent almost six months in prison before being sentenced. A federal judge revoked his release bond in September 2017Two months later, he was convicted and offered to send samples of Hillary Clinton’s hair to his Facebook fans for $5,000.

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Benjamin Brafman was Shkreli’s lawyer and released this statement on Wednesday. It stated that Martin Shkreli had been freed from Allenwood Prison after completing all of the programs which allowed him to get his sentence reduced.

Brafman explained that he had encouraged Shkreli, while at the halfwayhouse, to refrain from making any more statements. I also said that he and I would not make additional comments.

According to a spokesperson for the Bureau of Prisons, Shkreli was moved into community confinement under supervision of the Residential Reentry Management Office.  

A spokesperson for the BOP stated in a statement that communitiy confinement refers to inmates who are either housebound or living in Residential Reentry Centers (RRCs) or halfway houses. “Mr. Shkreli’s projected release date from the custody of the BOP is September 14, 2022. For safety and security reasons, we do not discuss any individual inmate’s conditions of confinement to include transfers or release plans.”

Shkreli became a national scandal in 2015 after Vyera, his second pharmaceuticals business, raised the price for the lifesaving drug Daraprim 8,000% overnight.

Shkreli gained the nickname “Pharma bro”, for smugly defending the increase in price, for insulting Twitter users who pointed out his actions, and for purchasing a Wu-Tang Clan exclusive album for $2million.

However, his criminal conviction does not relate to the increase in price of anti-parasite medications.

In late 2015, Shkreli was charged with defrauding two investors in a hedge fund to create his first drug company, Retrophin. Shkreli was also charged with taking Retrophin from his hedge fund investors to cover up losses.

He was convicted at trial in July 2017 Brooklyn Federal Court of Several Charges in this Case

A federal judge prohibited the use of the term “banana” in January Shkreli for life from the pharmaceutical industryVyera received nearly $25 million in civil sanctions for his anticompetitive behavior to shield Vyera’s Daraprim profit.

Vyera was awarded $40 million by the Federal Trade Commission to seven plaintiffs in that case.