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Earlier quoted context omitted.
of course, but 7 years is a very long time. It could have been shorter, considering the lack of actual damages.
Why do you believe there were no actual damages? Because investors eventually got their money back after years of fraud? (I would also argue the investors in Retrophin lost millions in returns due to Shkreli's paying off MSMB Capital investors, but that is not what he was convicted of)
Really recommend watching Shkreli's interview with The Breakfast Club where he's attacked for all the things he's become infamous for in the public sphere (drug price hikes, wu-tang album, etc.) The guy gets it, and played the game the way it was presented to him. He actually comes across as a very smart, thoughtful, and respectful guy that can roll with the punches and dish back when needed. Sure he's a bit of a tro…
Here's what we just witnessed. 1. Companies were cornering certain drugs, then hiking their prices up significantly. Shkrelli did the same thing (but stated he was willing to give it free for anyone who asked). Note, that this is not illegal in any way, but news was all over it and citizens were pissed. 2. Shkrelli, being outspoken, became the focus of this issue. He dug a hole for himself, but concerning drug prices…
No here's what actually happened. 1. Shkreli lied to investors. Regardless of whether the investors eventually made money, Shkreli put them needlessly at risk, and broke the law. 2. He could have gone away for 15 years, or walked away with a slap on the wrist. The judge sentenced him for 7 years in prison, given the fact that this guy showed no remorse, and thought it made him likely to reoffend, perhaps with more se…
Sadly, It's still perfectly legal to corner a drug and hike the prices. That was the bigger crime, and it continues to go on, costing taxpayers and patients millions if not billions of dollars, and sometimes costing their health.
Yes, hiking drug prices isn't what you should be looking at. Look at Shkrelli! He's in jail; problem solved. Politicians are now off the hook with this conviction. No problem here, justice served. /s
Here's what we just witnessed. 1. Companies were cornering certain drugs, then hiking their prices up significantly. Shkrelli did the same thing (but stated he was willing to give it free for anyone who asked). Note, that this is not illegal in any way, but news was all over it and citizens were pissed. 2. Shkrelli, being outspoken, became the focus of this issue. He dug a hole for himself, but concerning drug prices…
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Here's what we just witnessed. 1. Companies were cornering certain drugs, then hiking their prices up significantly. Shkrelli did the same thing (but stated he was willing to give it free for anyone who asked). Note, that this is not illegal in any way, but news was all over it and citizens were pissed. 2. Shkrelli, being outspoken, became the focus of this issue. He dug a hole for himself, but concerning drug prices…
Here's what we just witnessed. 1. Companies were cornering certain drugs, then hiking their prices up significantly. Shkrelli did the same thing (but stated he was willing to give it free for anyone who asked). Note, that this is not illegal in any way, but news was all over it and citizens were pissed. 2. Shkrelli, being outspoken, became the focus of this issue. He dug a hole for himself, but concerning drug prices…
Earlier quoted context omitted.
Except this investigation was already in progress when the drug price thing happened.
Do you have a source?
Here's a Newsweek article from September 2015, when the Turing Pharmaceuticals story broke: http://www.newsweek.com/martin-shkreli-drug-manipulation-dar...
> Since at least in January, Shkreli has been under criminal investigation by the United States Attorney’s Office for the Eastern District of New York, court records show. And Shkreli is not alone—some of his business associates have also received grand jury subpoenas in the case.
Earlier quoted context omitted.
Why do you believe there were no actual damages? Because investors eventually got their money back after years of fraud? (I would also argue the investors in Retrophin lost millions in returns due to Shkreli's paying off MSMB Capital investors, but that is not what he was convicted of)
They actually had their money tripled. Tripled. Tripled.
Civil damages mostly addresses the harm caused, criminal punishment is less about the harm caused by a particular act and more about the risk to society of normalizing the behavior.