Shkreli stays in jail; Infamous ex-pharma CEO quickly loses appeal

Shkreli stays in jail; Infamous ex-pharma CEO quickly loses appeal

Enlarge / Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, center, listens while his attorney Benjamin Brafman, right, speaks to members of the media outside federal court in the Brooklyn borough of New York, US, on Friday, Aug. 4, 2017. (credit: Getty | Bloomberg)

In a swift 3-0 vote Thursday, a panel of judges in a New York federal appeals court upheld the August 2017 conviction of Martin Shkreli. The infamous ex-pharmaceutical CEO is currently serving a seven-year prison sentence for fraud stemming from what prosecutors had described as a Ponzi-like scheme.

Shkreli, 36, must continue to serve his sentence and also still forfeit more than $7.3 million in assets, the judges affirmed.

The judges’ ruling came just three weeks after hearing arguments in the appeal—rather than the normal period of months, Bloomberg notes. The ruling was also an unusually short seven pages.

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