Shkreli ordered to await sentencing in jail

Martin Shkreli

Martin Shkreli

Ex-pharmaceuticals company CEO Martin Shkreli had his bail revoked in a NY securities fraud case and faces jail time.

While he has a history of harassing women online, prosecutors were particularly critical of a September 4 Facebook post in which he offered his followers a $5,000 reward for plucking a strand of Hillary Clinton's hair during her current book tour.

He has said he feels "exonerated" despite his conviction.

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"I apologize for my behavior and ask you respectfully not to change my bail status so that I may continue to assist my attorneys in preparing for my sentencing", Shkreli wrote in his letter to the judge.

Shkreli, a former portfolio manager and pharmaceutical executive, was convicted on August 4 of two counts of fraud and one count of conspiracy for misrepresenting the financial state of his hedge funds to investors.

In a letter to Matsumoto last week, prosecutors argued that "Shkreli has engaged in an escalating pattern of threats and harassment". "I used poor judgment but never meant to cause alarm or promote any act of violence whatsoever", he added, pleading that the judge not revoke his $5 million bond.

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Shkreli, who was found guilty on two counts of securities fraud, caught the Secret Service's attention after he wrote a Facebook post last week that read: "The Clinton Foundation is willing to KILL to protect its secrets". During the campaign, Trump used "political hyperbole", Shkreli's attorneys said, when he said that his Democratic opponent, Hillary Clinton, would abolish the Second Amendment if elected.

Shkreli, 34, is best known for raising the price of an AIDS drug by 5,000 percent but was convicted by a Brooklyn jury of defrauding the investors in his hedge funds.

This is not the first time prosecutors have complained to Matsumoto about Shkreli's conduct.

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Though the charges carry a maximum sentence of 20 years, Shkreli will likely serve much less, in part because none of the investors lost money. She chastised him for entering an overflow courtroom used by reporters and speaking to them directly, without his lawyer present, to criticize his prosecutors as "junior varsity".

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