Fun and games for Martin Shkreli are over. It’s impossible to say what may happen to Shkreli but everyone knows it won’t be fun.
The smug 34-year-old who jacked-up AIDS medicine, stole from investors and called Washington DC lawmakers “imbeciles” will be spending his days sharing his new residence with vermin, limited computer access, and no social media.
Inmate #87850-053 is unknown. The name behind the number is well-known and possibly the most hated man in America.
Shkreli bragged once instead of going to a real jail he would enjoy “Club Fed” where he could wear white tennis short, sip ice tea and spend his evenings relaxing in front of a flatscreen television. The reality is different.
“It’s a rough area,” said Arkady Bukh, a white-collar attorney in New York.
Brooklyn Metropolitan Detention center is a federal jail holding about 2,000 inmates. Shkreli will be a resident until he is sentenced January 16.
Shkreli was found guilty in August of fraud and conspiracy for lying to investors in a variety of hedge funds he managed.
Shkreli had been free while waiting for sentencing. When Shkreli posted on social media he would pay $5000 for a single hair from Hillary Clinton, a judge revoked his $5 million bail and sent him to jail.
Shkreli will likely mix with the other prisoners which includes gang members, drug dealers, bank robbers and other persons convicted financial crimes.
Shkreli first became infamous in 2015 when he raised the cost of a tablet taken by AIDS sufferers from $13.50 to $750. With a grandiose character and sustained use of social networks, Shkreli has stayed in the limelight. That beacon of fame may be decreasing. Shkreli faces up to twenty-years behind bars.
Some observers believe Shkreli is not likely to get the greatest sentence. Others say the same behavior which led to bail revocation may keep him from getting a lighter sentence.
“The judge has seen Shkreli’s behavior as violent,” said Sarah Walters, a white-collar defense lawyer in Boston.
Larry Levine, the founder of Wall Street Prison Consultants, is a jail specialist who spent ten years across 11 federal facilities for racketeering, drug trafficking, and securities fraud. Now, Levine instructs prison-bound clients on how to survive incarceration.
Levine says Shkreli will have his work cut out for him.
“He’ll have to walk a fine line in dealing with inmates,” said Levine. “Shkreli will need to refrain from being arrogant and show respect.”
