Shkreli’s lawyer Benjamin Brafman, in a statement Wednesday, said, “I am pleased to report that Martin Shkreli has been released from Allenwood prison and transferred to a BOP halfway house after completing all programs that allowed his prison sentence to be shortened.”
“While in the halfway house I have encouraged Mr. Shkreli to make no further statement, nor will he or I have any additional comments at this time,” Brafman said.
A Bureau of Prisons spokesman said Shkreli was transferred to community confinement overseen by the agency’s Residential Reentry Management Office.
“Community confinement means the inmate is in either home confinement or a Residential Reentry Center (RRC, or halfway house),” the spokesman said in a statement. “Mr. Shkreli’s projected release date from the custody of the BOP is September 14, 2022. For safety and security reasons, we do not discuss any individual inmate’s conditions of confinement to include transfers or release plans.”
Shkreli gained national infamy in 2015 when his second pharmaceuticals company Vyera summarily raised the price of the lifesaving drug Daraprim by more than 4,000% overnight.
Shkreli earned the sobriquet “Pharma bro” for smugly defending that price increase, for insulting people on Twitter who called out his behavior, and for his purchase of a one-of-a-kind Wu-Tang Clan album for $2 million.
But his criminal conviction is unrelated to the price increase of that anti-parasite medication.
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.
He was convicted at trial in July 2017 in Brooklyn federal court of several charges in the case.
In January, a federal judge banned Shkreli for life from the pharmaceutical industry and ordered him to pay nearly $25 million in civil penalties for engaging in anticompetitive conduct to protect Vyera’s profits earned from Daraprim.
Vyera paid $40 million to plaintiffs in that same case, which included the Federal Trade Commission and seven states, among them New York and California.
Source Article from https://www.cnbc.com/2022/05/18/martin-shkreli-released-from-federal-prison-into-halfway-house-.html
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