Martin Shkreli, the so-called “Pharma Bro” who became the face of corporate greed in 2015 for raising the cost More than 4,000 percent of AIDS drugs were released Wednesday from the Allenwood Low Federal Correctional Institution in Pennsylvania, according to the Prisons Office.
Shkreli is being transferred to a “community confinement,” which, according to the agency, means she will face confinement at home or live in a halfway house. The BOP did not specify which one would apply to Shkreli, saying it did not talk about specific conditions on individual prisoners for “security reasons.”
Shkreli will be released from BOP custody on Sept. 14, the agency said in an email to CBS MoneyWatch.
The release comes more than four years after the former executive of the pharmaceutical company was convicted seven years in prison for securities fraud, a conviction that had nothing to do with its role in raising drug prices. At the time of his conviction, Shkreli apologized for his “negligent and stupid mistakes” in overseeing two hedge funds.
—This is a story in development and will be updated.
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