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Very interesting. I certainly hope he gets more time than I am expecting. Personally, my gut is saying 1-2 years. I'd be happy if he gets 4-6 like you expect
by turc1656 9y ago
Very interesting. I certainly hope he gets more time than I am expecting. Personally, my gut is saying 1-2 years. I'd be happy if he gets 4-6 like you expect.
Definitely going to be interesting to hear the judges words during sentencing. I was listening to the Michelle Carter sentencing yesterday, as I was following that relatively closely. Now I'm waiting to see what happens here, but this is much more cut and dry than that case. I'm only interested because it's Shkreli.
- Froyoh 9y agoI'm willing to say less than 1 year, we'll see who's right ;)
- cornedor 9y agoHe just said in a podcast with h3h3 that it would something like 6 months.
- slewis 9y agoIt'd be interesting to hear why you'd like 4-6 years. I'm not judging your preference or response, really just curious.
- wcummings 9y agoSeems like a sorta horrible thing to say imo, 6 years is a long time to spend in prison.
- fastball 9y agoWhy do you favor harsher sentencing for him? As a hedge fund manager, losing money is not illegal. The only illegal thing he did was lie about it so that he could get them their money back. It would've been perfectly legal for him to lose all his clients money in the hedge fund, make them aware of this fact, and reap the profits from his pharma business without dishing it out to his hedge fund clients. As far as I can tell, Shkreli turned a technically legal "I fucked up and lost your money scenario" into a technically illegal I fucked up, lost your money, but got it back to you scenario. If I was part of Shkreli's hedge fund, I would much prefer to be involved in the latter scenario than the former. Sure, I could sue Shkreli to recoup some of my hedge fund losses, but this way they didn't need to.
- Alex3917 9y ago> The only illegal thing he did was lie about it so that he could get them their money back. You're missing the point; giving his investors 'their' money back was the thing he did that was unethical and illegal. If you're a fund manager and the value of your portfolio goes down after making bad bets, you can't just inject your own money into the fund to make it look like you have a positive track record so that you can solicit more outside funds.
- um_ya 9y agoYou're grasping for ways to punish this guy because you don't like him. The fact is, he made a mistake and wanted to pay back the people he made a mistake with.
- RodericDay 9y agoI'd say it's exactly the opposite. The guy blatantly broke the law, but you seem to he very attached to him because you see him as some kind of noble do-gooder.
- usrusr 9y agoIf you lie about the nature of an investment your fund is doing it is fraud, even if the investment you have secretly been doing turns out to be successful.
- fastball 9y agoI realize that it is fraud, but it's "lesser of two evils" fraud, which is why I personally favor lighter sentencing.
- jklein11 9y agoAt the heart of it Shkreli was robbing Peter to pay Paul. He took some of Retrophin investors profits and used it to pay back his investors in MSMB. Those profits should have gone to Retrophin investors. From the perspective of the hedge fund, this is a pretty bad spot to be in. Retrophin investors will be looking to be made whole for the money Shkreli gave to MSMB investors. I would imagine that this is how Ponzi schemes start.