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'Pharma Bro' Out of Prison

Martin Shkreli, the so-called "Pharma Bro," has been released from prison, the Wall Street Journal reports.

It adds that Shkreli was convicted in 2017 on federal securities fraud charges related to two hedge funds and a company he founded. According to Politico, Shkreli was sentenced to seven years for lying to investors about how those hedge funds were performing, taking money from those funds, and defrauding investors in the drug company Retrophin by obscuring his ownership share.

Shkreli was also widely condemned for buying the rights to the antiparasitic drug Daraprim and raising the price from $13.50 to $750 a pill, Politico notes. The Journal adds that Shkreli further gained notoriety for paying $2 million for the only copy of a Wu-Tang Clan album; the US government sold it last July to cover the $7.4 million in forfeiture Shkreli was also ordered to pay.

Shkreli, according to the Journal, has been transferred to a halfway house and is expected to be released from federal custody in September.

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