Martin Shkreli put in solitary confinement ‘after running pharma company from his cell’

Disgraced businessman reportedly sacked firm's chief executive using contraband smartphone

Tom Embury-Dennis@tomemburyd
Tuesday 02 April 2019 18:36
Martin Shkreli has been sentenced to seven years in prison

Martin Shkreli has reportedly been thrown in solitary confinement after continuing to run his pharmaceutical company from prison via a contraband smartphone.

The disgraced businessman, once branded the most hated man in America for vastly increasing the price of a lifesaving drug, was sentenced last year to seven years in jail over an unrelated securities fraud conviction.

According to Forbes, officers at the prison in Fort Dix, New Jersey, put Shkreli in solitary after he reportedly continued to run Phoenixus AG, of which he owns a 40 per cent stake, from his cell.

Shkreli allegedly dealt with the upper management of the firm, even firing chief executive Kevin Mulleady before reinstating him under a suspension. He also managed to keep his social media accounts and personal blog updated.

According to the Federal Bureau of Prisons, inmates are not allowed to have cell phones, and can be fined and jailed for a year for the offence.

The bureau, which has been contacted by The Independent for comment, would not confirm Shkreli’s status, but told the magazine he was under investigation.

“When there are allegations of misconduct, they are thoroughly investigated, and appropriate action is taken if allegations are sustained,” a spokesperson said.

Despite forfeiting $7.4m (£5.6m) in assets and paying a fine of $750,000 (£574,000) as part of his sentence, Shkreli reportedly has a net worth of $27m (£20m), and believes his business will be valued at $3.7bn (£2.8bn) by the time he is released.

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