'Pharma Bro' Martin Shkreli To Serve Sentence At Fort Dix Prison

The man who has been dubbed “The Most Hated Man in America” will reportedly serve his seven-year prison sentence at the Federal Correction Institution at Fort Dix (FCI Fort Dix) in Burlington County.

Martin Shkreli, 35, arrived at the prison on Tuesday, and will serve his sentence in the prison’s low security wing, The New York Daily News reports. He was being held at a prison in Brooklyn, but a judge agreed to his lawyer’s request to move him to a prison in Pennsylvania or “near New York City.”

His attorney had been asking to have him transferred to Canaan US Penitentiary in Waymart, Pennsylvania, according to CNN. That is a high security prison with adjacent minimum security camp.

FCI Fort Dix has about 4,000 inmates, and is adjacent to a minimum security satellite camp, where there are about 300 inmates.

He was sentenced in August to seven years in prison after being convicted of defrauding the investors in his hedge funds, MSMB Capital and MSMB Healthcare. Prosecutors had been seeking 15 years, and his defense team was asking for 18 months. He was also ordered to forfeit more than $7.3 million, an amount that prosecutors said was a conservative estimate of the money Shkreli made through fraud.

Shkreli lied to obtain investors' money. When he made a bad stock bet that led to massive losses, he didn't tell investors, prosecutors argued, but instead raised more money to pay off other investors, or took money and stock from Retrophin, a drug company he founded.

He became infamous in 2015 after he raised the price of the lifesaving drug Daraprim from $13.50 a pill to $750. Daraprim is used along with other drugs to treat a serious parasite infection of the body, brain, or eye or to prevent toxoplasmosis in people who have HIV.

When questioned about this before Congress, he smirked at the questions and refused to answer.
He has been behind bars since September, when his bail was revoked after he offered $5,000 to anyone who could get a lock of Hillary Clinton's hair during her book tour.

Image credit: Spencer Platt / Staff / Getty Images News