| I see. Yes, misstated was probably the wrong word. Here is what he got convicted of fraud for: ...the fund was managing $35 million in assets and had an independent auditor. He said he later learned both of those claims were false https://www.reuters.com/article/us-usa-crime-shkreli/investo... That is a lie and therefore fraud, but the 7 year sentence seems out of line with the actual fraud committed (there are degrees). Shkreli lied to him repeatedly, although he eventually made millions of dollars from the investment. He made the defrauded investors money. In this crazy country, I'm not sure that giving someone shares in another company to cover other losses is illegal (Retrophin Inc). It seems like a Ponzi, but who knows. Fund managers are given a hell of a lot of leeway. So to summarize, 7 years seem harsh for lying about the size of the assets and an independent auditor, given the fact that the investors made money. To me this seems more in line that he was punished for the press he got, and embarrassing Congress when they called him in for his perfectly legal monopolistic practices. I would much rather him be convicted for that. |