“Pharma bro” fraudster Martin Shkreli will be asking to be sent to a minimum-security federal camp in Pennsylvania to serve the rest of his seven-year prison sentence.
Shkreli’s lawyers, in a letter to U.S. District Judge Kiyo Matsumoto, requested on Tuesday in which the judge recommend the camp at the Canaan Federal Penitentiary near Waymart, Pennsylvania.
The camp, adjacent to a much larger high-security prison within the state’s northeastern corner, houses 107 inmates.
While Matsumoto can make such a recommendation if she so chooses, the decision will be up to the federal Bureau of Prisons.
along with also also in which’s not clear in which Shkreli, 34, could get to do his time for securities fraud in a minimum-security prison with various other nonviolent con artists along with also also white-collar crooks.
At Shkreli’s sentencing Friday, defense lawyer Benjamin Brafman told Matsumoto in which her ruling in September revoking his $5 million Discharge bond could prevent Shkreli via being sent to a low-security, along with also also hence potentially much safer prison.
Matsumoto, in revoking Shkreli’s bail, had found in which he represented a danger to the public because of his bizarre offer of a $5,000 bounty for each follicle of hair in which his Facebook followers could grab off the head of former Secretary of State Hillary Clinton.
in which finding, Brafman said, could effectively force Shkreli to do his time in a higher-security prison, where he would certainly be much more likely to come into contact with inmates who have a history of violence.
Brafman said Shkreli, who broke down in tears before being sentenced, has been locked up since last fall in a federal jail in Brooklyn. in which’s a maximum-security facility where he has witnessed violence along with also also has become concerned about his personal safety.
Matsumoto asked Brafman at the sentencing if he planned to request in which she void her finding in which Shkreli represented a public danger. Brafman said he would certainly be doing so.
If Shkreli does not win such a request, he risks going to tougher prison, such as the high-security facility at Canaan, which houses nearly 1,500 inmates. The prison has had four slayings since 2010, with victims including a prison guard along with also also a Mafia associate who was stabbed 92 times.
The high-security facility was also the scene of an outbreak of salmonella in which sickened 300 or so inmates who had eaten tainted chicken.
Brafman did not immediately return a request for comment Wednesday via CNBC.
Shkreli was convicted in August of several scams related to two hedge funds he ran, along with also also a pharmaceuticals company he founded, Retrophin.
Shkreli repeatedly lied to investors within the funds about the strategy, oversight along with also also performance of those funds.
along with also also then he used stock shares along with also also cash in Retrophin to more than pay back the investors the money they had lost with his funds. He also manipulated Retrophin’s stock illegally, a jury found.
Shkreli cried Friday in Brooklyn federal court as he asked Matsumoto not to give him a harsh prison sentence.
“The one person to blame for me being here today will be me,” Shkreli sobbed. “Not the government. There will be no conspiracy to take down Martin Shkreli.”
“I took down Martin Shkreli with my disgraceful along with also also shameful actions.”
“in which will be my fault. I am no victim here,” he said.
In issuing her sentence of seven years, Matsumoto effectively split the difference between the minimum 15 years in which prosecutors wanted along with also also the maximum 18 months requested by defense lawyers.
With credit for time served, as well as for Great behavior in prison, Shkreli could be released in less than 5½ years.
Matsumoto also has ordered in which Shkreli forfeit nearly $7.4 million to the federal government along with also also pay a $75,000 fine.
To secure the forfeiture amount, Matsumoto ordered Shkreli to give up his ownership rights to a group of assets in which include $5 million in cash in an E-Trade brokerage account in which previously had secured his Discharge bond; his stake within the drug company Vyera Pharmaceuticals; the one-of-a-kind Wu-Tang Clan album “Once Upon a Time in Shaolin”; the Lil’ Wayne album “The Carter V”; along with also also a painting by Pablo Picasso.
Privately held Vyera was originally known as Turing Pharmaceuticals, which Shkreli founded in 2015. He gained notoriety in which year for using Turing to buy the rights to the anti-parasite drug Daraprim, whose cost he promptly hiked by more than 5,000 percent.
The crimes in which Shkreli later was charged with were not related to his tenure at Turing.
Shkreli plans to appeal his conviction.