NEW YORK — The two years since the FBI ushered Martin Shkreli out of his Manhattan apartment might as well be a lifetime ago.
The former hedge fund manager gained notoriety for his decision to raise the price of a lifesaving drug 5,000 percent, earning him a lecture from Congress. He smirked his way through interviews and beefed with rappers, reporters and almost anyone else in his path. He was repeatedly kicked off Twitter. There was a satirical musical about him, “Pharma Bro: An American Douchical!”
On Friday, Shkreli’s unique journey from a hedge fund rising star to Wall Street bad boy will take its most serious turn. After being convicted last summer of defrauding investors, Shkreli faces more than a decade in prison.
Usually boisterous and defiant, Shkreli has struck a contrite tone. “I accept the fact that I made serious mistakes, but I still believe that I am a good person with much potential,” he wrote in a letter to the judge overseeing his case.
It may be too late. Prosecutors argue Shkreli, 34, should spend at least 15 years in prison. His defense team is asking for a fraction of that, 12 to 18 months, but even that would be a concession for Shkreli, who bragged that he would spend little to no time in prison.
“The trial and six months in a maximum-security prison has been a frightening wake-up call. I now understand how I need to change,” Shkreli wrote in his letter.