Former Wall Street executive, Martin Shkreli, is being held in a Brooklyn federal prison alongside hip-hop mogul, Sean “Diddy” Combs. According to reports, Shkreli, who was sentenced to seven years in prison for defrauding investors, is currently housed in the Metropolitan Correctional Center (MCC) in Brooklyn, where Combs has also been held on and off over the years.
Shkreli’s stint in the MCC is part of his punishment for orchestrating a scheme that bilked investors out of millions of dollars. As the founder of Retrophin, a biotech firm, Shkreli took $5 million from the company and used it to pay off debts he incurred while running another company, MSMB Capital Management. He was also accused of defrauding investors of millions more by lying to them about the success of his companies.
Combs, on the other hand, has been held in the MCC on multiple occasions for various reasons, including a 1995 shooting at a New York City nightclub that left several people injured. He has also been arrested and charged for drug-related offenses, but has always maintained his innocence.
Despite their vastly different backgrounds and crimes, both Shkreli and Combs are currently sharing the same prison walls. According to reports, Shkreli has been trying to get a transfer to a different prison, citing safety concerns and the fact that he is being held with gang members. However, it’s unclear whether he will be successful in his efforts.
In the meantime, Shkreli’s stint in the MCC will likely be a humbling experience for the former hedge fund manager. Despite his attempts to portray himself as a victim, Shkreli’s actions have made him a pariah in the financial community, and his time in prison may serve as a wake-up call for him to rethink his priorities.
