Shkreli released from prison to halfway house after serving

Martin Shkreli was released from federal prison after serving less than five years of a seven-year sentence for a securities and wire fraud conviction. He will be in a US Bureau of Prisons halfway house in New York until September 14, 2022.

Shkreli was found guilty of securities fraud and conspiracy to commit securities fraud in connection to a Ponzi-like scheme that he managed. He was sentenced to seven years in a federal prison in Allenwood, Pennsylvania, in March of last year.

His early release reflects time shaved off for good behavior in prison, as well as completion of education and rehabilitation programs, according to CNBC. He spent six months in jail before he was sentenced.

Ben Brafman said that Martin Shkreli was released from Allenwood prison and was transferred to a BOP halfway house after completing all the programs that allowed for his prison sentence to be shortened.

The statement said that Brafman encouraged Mr. Shkreli to make no further statement, nor will he or I have any additional comments at this time.

The Bureau of Prisons does not discuss the conditions of confinement of individual inmates.

While the hedge fund-related fraud charges were what landed Shkreli behind bars, his infamy dates back to 2015, when he jacked up the price of a life-saving drug by more than 4,000 percent. The drug is prescribed to babies and people with compromised immune systems, such as HIV patients, and its price hike made Shkreli a child of pharmaceutical greed. His online antics and disregard for patients earned him the nickname of "pharma bro" in the press.

In January of this year, a federal court banned Shkreli from working in the pharmaceutical industry for the rest of his life. He was ordered to pay back $65 million in profits from the scheme.