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‘How To Survive In Prison’: Pharma Bro Martin Shkreli Offers Tips To Bankman-Fried

Martin Shkreli, who was sentenced to federal prison in 2018 for securities fraud, has some advice for FTX founder Sam Bankman-Fried on how to survive in the slammer.

The notorious 'Pharma Bro,' who earned the moniker when — as Turing Pharmaceuticals CEO — he upped the price of a medication for AIDS by 5,000%, says Bankman-Fried should think about:

  • Shaving his head
  • Deepening his voice
  • Brushing up on gang culture

Shkreli, who was released from prison in May, made the comments on the cryptocurrency podcast "Unchained" on Dec. 23.

The former prisoner claims that Bankman-Fried, or "SBF," needs to reinvent himself for prison since being a wealthy white kid from a good neighborhood "doesn't sound great."

Bankman-Fried "isn't exactly gonna be somebody that fits into prison," Shkreli said, adding that the institution is a "very testosterone-filled, masculine place."

Shkreli explained that a prison is a place where Bankman-Fried's "sensibility doesn't go over well," and suggested that he should distance himself from his privileged background and education at Stanford University, and become knowledgeable about criminal culture in order to adapt to prison life.

“He also doesn’t know anything about the streets and criminal culture," Shkreli says. "My advice is to pick those things up as quickly as he can; he should be listening to as much rap music as possible, and he should be trying everything there is to know about gangs."

Also read: Hackers Steal $8M from BitKeep Wallets Via Malicious Android App

Shkreli added that these measures, while they may seem absurd, could potentially save Bankman-Fried's life.

Meanwhile, Bankman-Fried received an alternative piece of advice from Sam Antar, another formerly convicted felon and the former CFO of Crazie Eddie, a notoriously corrupt corporation from the 1980s.

"JUMP BAIL AND RUN,” he advised.

Last month, Do Kwon, the creator of Terra blockchain, and Shkreli appeared as guests on the ‘The UpOnlyTV’ podcast.

“I just want to let you know jail’s not that bad, it’s not the worst thing ever, so don’t fret. I hope it doesn’t happen. But if it does happen, it’s not that bad,” Shkreli told him.

“Good to know,” Kwon replied.

According to a Dec. 26 update on the Bankman-Fried situation, workers were spotted installing surveillance cameras outside his parents' home in Palo Alto on Monday, where he is currently staying under house arrest.

Bankman-Fried is required to wear an ankle monitor and is only allowed to leave the house for physical activity and treatment for drug and alcohol abuse.

He is also restricted in the payments he can make.

It is expected that he will return to court in the first week of January.

Next: Will Japan's Easing Of Stablecoin Regulations Boost Cryptocurrency Trading, International Remittances?

Image via Wikimedia

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