Martin Shkreli, the so-called "Pharma Bro" famous for jacking up the price of an AIDS drug by 5,000 percent but convicted of defrauding investors during his time as a hedge fund manager, was jailed Wednesday after a federal judge revoked his $5 million bail.
Prosecutors argued that Shkreli, who is set to be sentenced later this fall, has been spending his time harassing women online, notably when he announced on social media he would give $5,000 to anyone who got a strand of Hillary Clinton's hair. Shkreli apologized, and said he wasn't being serious. "He does not need to apologize to me," U.S. District Judge Kiyo Matsumoto said. "He should have apologized to the government, the Secret Service, and Hillary Clinton. This is a solicitation of assault. That is not protected by the First Amendment."
An attorney for Shkreli said his client's comments were "stupid," but his "political hyperbole" was protected by the Constitution and he is not a danger to society. (The Justice Department disagrees with that last part.) Shkreli was taken into custody after the hearing, and will remain in jail until his sentencing hearing. He faces up to 20 years in prison. Catherine Garcia
The Department of Justice has filed a motion against "Pharma Bro" Martin Shkreli, calling him a "danger to the community" after he offered $5,000 to anyone who managed to steal hair from Hillary Clinton while she is on tour for her new memoir, LawNewz reports. Shkreli, 34, claimed he needed the hair to "confirm the sequences I have" and said the payment would come "after the sequence matches."
The DOJ's motion argued Shkreli's bail should be revoked: "Shkreli's latest threat is concerning not only because it has required a significant expenditure of resources by the United States Secret Service, which is charged with protecting Secretary Clinton, but also because there is a significant risk that one of his many social media followers or others who learn of his offers through the media will take his statements seriously — as has happened previously — and act on them," the federal prosecutors wrote.
On Thursday night, Shkreli responded on Facebook: "Hillary Clinton's presumptive agents are hard at work," he wrote. "It was just a prank, bro! But still, lock HER up. Spend your resources investigating her, not me!!"
The former CEO of Turing Pharmaceuticals, Shkreli was convicted of securities fraud in August. He faces up to 20 years in prison, and has been free on a $5 million bond since his initial arrest in December 2015. Jeva Lange