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Martin Shkreli: 'Pharma bro' released early from federal prison

Martin Shkreli
Posted at 12:27 PM, May 18, 2022
and last updated 2022-05-18 15:27:59-04

Martin Shkreli, who gained notoriety for raising the price of a life-saving AIDS drug and purchasing a one-of-a-kind Wu-Tang Clan album, was released early from federal prison Wednesday.

Shkreli's lawyer Benjamin Brafman confirmed to CNBC and The Wall Street Journal that his client was transferred to a halfway house once he was released from Allenwood prison in Pennsylvania "after completing all programs that allowed his prison sentence to be shortened.”

ABC News reported that the "Pharma Bro" only served five of his seven-year sentence before being released.

Shkreli was convicted in 2017 for defrauding investors out of more than $10 million.

In 2015, his company, Turing Pharmaceuticals, raised the price of Daraprim by 4,000%.

The cost of one pill went from $13.50 to $750.