Katherine Biek
A Pharmaceutical Company Is Accused Of Starting An Opioid Scheme
A pharmaceutical company founder was charged with illegally distributing a fentanyl product.
LEARN MOREPosted: 10:59 a.m. EST Mar 1, 2018
Former pharmaceutical CEO Martin Shkreli asked a judge for leniency ahead of his sentencing later this month.
In a letter, Shkreli called himself "a fool" saying, "I accept the fact that I made serious mistakes, but I still believe that I am a good person with much potential."
In late 2015, the FBI arrested Shkreli on multiple fraud-related charges. Officials accused him of running a Ponzi-like scheme in which he founded new companies and used their assets to pay off debts from others he owned.
A jury later found him guilty on two counts of securities fraud and one count of conspiracy to commit securities fraud.
Shkreli faces up to 20 years in prison, but his defense team asked the judge to impose a much lesser sentence — between 12 and 18 months. In addition, his lawyers propose he complete 2,000 hours of community service and undergo court-mandated therapy.
Shkreli's sentencing is scheduled for March 9.
