The Brooklyn judge who revoked pharmaceutical executive Martin Shkreli's $5 million bail and put him in jail refused Thursday to free up the money that secured his bond.
U.S. District Judge Kiyo Matsumoto said Shkreli's eTrade account should remain tied up until the court determines whether he needs to pay a fine, restitution or monetary penalty. And she ordered prosecutors and the defense to discuss whether there will be a forfeiture proceeding.
Shkreli — who earned the nickname "Pharma Bro" for his cavalier response to criticism over price hikes for a lifesaving drug — was convicted of security fraud charges in August.
The 34-year-old will remain in jail until his Jan. 16 sentencing. Although he has boasted he will probably spend less than a year at a cushy "Club Fed," he faces up to 20 years in prison.
His attorney had no immediate comment on the judge's ruling.
Tracy Connor is a senior writer for NBC News. She started this role in December, 2012. Connor is responsible for reporting and writing breaking news, features and enterprise stories for NBCNews.com. Connor joined NBC News from the New York Daily News, where she was a senior writer covering a broad range of news and supervising the health and immigration beats. Prior to that she was an assistant city editor who oversaw breaking news and the courts and entertainment beats.
Earlier, Connor was a staff writer at the New York Post, United Press International and Brooklyn Paper Publications.
Connor has won numerous awards from journalism organizations including the Deadline Club and the New York Press Club.