Jury Deliberations Continue In Martin Shkreli Securities Fraud Trial
Getty Images

Martin Shkreli Found Guilty Of Fraud, Sentenced To Seven Years In Prison

"I took down Martin Shkreli with my disgraceful and shameful actions."  

Martin Shkreli gained notoriety in 2015 after the then CEO of Turing Pharmaceuticals raised the price of a drug called Daraprim from $13.50 a pill to $750 overnight. Daraprim is a life-saving drug that is frequently used by AIDS and cancer patients. Now, the 34-year-old has been sentenced to seven years in prison on Friday (Mar. 9) for defrauding investors out of $10 million dollars, Buzzfeed reports.

On August 5, 2017, Shkreli was convicted on charges of securities fraud and conspiracy. Prosecutors admitted that many of his business practices amounted to nothing but a Ponzi scheme. Shkreli's behavior during the trial last year led the judge to call him out for his constant smirking; however, in court Friday during sentencing he seemed to bring a different energy as he broke into tears and asked the judge for leniency.

"I look back and I'm embarrassed and ashamed, I am terribly sorry," he said to the court, "I took down Martin Shkreli with my disgraceful and shameful actions."

The former pharmaceutical executive seemed to be in a much more humble space than he was last year. A month after his conviction Shkreli took to Facebook to threaten Hilary Clinton by offering $5,000 to any person who nabbed a strand of her hair during her book tour. His $5 million dollar bail was revoked immediately after and he has been awaiting his sentencing in prison ever since.

His attorney, Benjamin Brafman, upheld in court that he should not be sentenced "for being Martin Shkreli" and that he may be "socially awkward" but he's "an interesting man with great potential".

Assistant U.S. Attorney Alixandra Smith argued that Shkreli told "lies on lies" all to trick his investors out of millions.

Earlier this week, Shkreli was forced to forfeit $7.4 million dollars worth of assets to the federal court. Some of the items included including a one-of-a-kind Wu-Tang Clan album, a Picasso painting, and an original copy of Lil Wayne's Tha Carter V.

From the Web

More on Vibe

Getty Images

Tory Lanez Sued For Alleged Attack In Miami Nightclub

Tory Lanez is facing legal trouble over an alleged altercation that went down inside Miami’s LIV nightclub last year. Christopher “Prince” Harty, an up-and-coming artist and Miami promoter who appeared on Love & Hip-Hop: Miami claims that Lanez attacked him last November.

The onetime reality star alleges that Lanez, along with his entourage and security team, punched and attacked him in the nightclub. According to reports, Prince claims to have suffered blunt force trauma to his head, neck, and chest, in addition to contusions, bruises and anxiety, as a result of the incident. He is suing for unspecified damages.

“They backed me into a corner, and once I was there, they started stomping on me, jumping me,” he recalled to NBC Miami.

He believes that the friction stemmed from an Instagram post about music. “They felt that I was insinuating that they stole the record from me, and I was just like, no, I would never do that, that was never my intention. I had no issue with him at all.”

A portion of the incident was captured on cellphone video. Prince stated that he knew Lanez prior to the run-in, and helped get him into clubs before.

His attorney, Marwan Porter of Porter Law Firm, called the violent incident “a chronic problem” with Lanez who is accused of shooting Megan Thee Stallion in July. The 28-year-old recording artist has yet to publicly address either incident.

Hear more from Prince in the video below.

Continue Reading
Prince Williams/Wireimage via Getty Images

Cardi B Opens Up About Filing For Divorce From Offset

Cardi B took to Instagram Live on Friday (Sept. 18) to air out a few things about filing for divorce from Offset.

The Bronx rapper made it clear that she didn’t file for divorce as a publicity stunt to promote her upcoming album. “I’m not doing it for clout and on top of that I don’t need stunts to sell music,” she said. “I’m not [trying to] brag but don’t ever say I’m doing anything for clout. My first album is three-times platinum and I didn’t need no stunts to do that. My [“Wap”] single is no. 1 worldwide why would I need stunts to sell music? I don’t need stunts — [especially] when it comes to family — to sell anything, so don’t play yourself.”

As for the reason for the divorce filing, the estranged couple simply grew apart. “Nothing crazy out of this world happened, sometimes people really do grow apart. I been with this man for four years. I have a kid with this man, I have a household with this man…sometimes you’re just tired of the arguments and the build up. You get tired sometimes and before something happens, you leave.”

“I just wanna' be a free bird,” Cardi said after questioning whether people secretly want infidelity to be the reason for the split.

“I am the f**king clout,” she added. “I never needed anything. I never needed no stunts to sell sh*t.Why would I need anything to sell my next album?”

Speaking of the new album, Cardi has been indecisive about choosing her next single because “WAP” did so well. “That means that my second single has to be even better.”

Towards the end of her venting session, Cardi reiterated that she’s focusing on her work, and revealed that she's starting new business for her daughter Kulture.


View this post on Instagram


A post shared by HIPHOLLYWOOD (@hiphollywood) on Sep 18, 2020 at 10:23pm PDT

Continue Reading
Sean Gallup/Getty Images

Barack Obama Announces Release Date For ‘A Promised Land’ Memoir

Following the mega-success of his wife’s Becoming release, Barack Obama is poised to debut his own memoir, A Promised Land, this fall. The former president made the literary announcement on Twitter on Thursday (Sept. 17).

“There’s no feeling like finishing a book and I’m proud of this one,” Obama tweeted while explaining that he tries to give an “honest account” of his presidency in the book. The release will also touch on “the forces we grapple with as a nation, and how we can heal our division and make democracy work for everybody.”

There’s no feeling like finishing a book, and I’m proud of this one. In 'A Promised Land,' I try to provide an honest accounting of my presidency, the forces we grapple with as a nation, and how we can heal our divisions and make democracy work for everybody. pic.twitter.com/T1QSZVDvOm

— Barack Obama (@BarackObama) September 17, 2020

The highly anticipated and introspective release takes readers on a “compelling journey” and details Obama’s “improbable odyssey from a young man searching for his identity to leader of the free world.” Included in the memoir are striking personal details about his political education, as well as landmark moments from his first term presidency.

The Obamas secured the reported $60 million book deals around a year after ending their tenure in the White House. Michelle Obama’s book became the best-selling memoir in history.

A Promised Land is currently available for pre-order at Obamabook.com. The memoir will be released on Nov. 17.

Continue Reading

Top Stories