‘Pharma Bro’ Martin Shkreli & Fyre Festival’s Billy McFarland Released Early From Prison
Two legendary fraudster bros who were both serving prison sentences for differing grifts have been released from prison and will both see out the rest of their time in halfway houses. These are Martin Shkreli and Billy McFarland, who were serving seven-year and six-year prison sentences respectively.
McFarland pled guilty to two counts of wire fraud in 2018, in relation to the money he received from investors for the disastrous failed Fyre Festival which became the subject of two documentaries. McFarland was reportedly placed in solitary confinement in 2020 when he launched a podcast Dumster Fyre from prison and hosted the first episode via phone.
Shkreli, who has been known for a while for plenty of scummy behavior including price hiking antiparasitic medication Daraprim, has been in prison since 2018 for securities fraud. He has been permanently barred from working in the pharmaceutical industry, had to return a significant amount of assets including over $60 million he made from the Daraprim price hike, and even had to forfeit some premium Wu-Tang Clan and Lil Wayne albums he purchased.
Both bros have been released and transferred to halfway houses, with their full releases scheduled for later this year. McFarland is expected to remain in community confinement until August, while Shkreli will be released in mid-September.