Martin Shkreli, known as “Pharma Bro,” has been released from federal prison early. Shkreli, known for his smug demeanor, was convicted of securities fraud after becoming a target of near-universal scorn for price-gouging the life-saving HIV drug, daraprim, by over %4,000. Shkreli’s early release from the Allenwood low-security federal prison was based on good behavior and the completion of educational and rehabilitative programs while incarcerated.
According to Dan Mangan of CNBC, “Shkreli was arrested in late 2015 on charges that accused him of defrauding investors at two hedge funds to found his first drug company, Retrophin. He also was charged with looting Retrophin to pay back investors at his hedge funds for losses that he had covered up.”
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(Source: CNBC, May 18th, 2022)