Martin Shkreli stated that “Sam isn’t exactly going to be someone who fits into prison,” and that he must rebrand himself in order to fit in and make friends.
Former white collar criminal Martin Shkreli, also known as “Pharma Bro,” gave FTX founder Sam Bankman-Fried some free advice on surviving federal prison.
Shkreli, who spent nearly four years in prison for securities fraud between 2018 and 2022, advised the currently-on-bail former FTX executive to consider shaving his head, deepening his voice, and brushing up on gang culture and rap music.
On a Dec. 23 episode of the crypto podcast Unchained, the former prison inmate suggested that SBF rebrand himself for jail because being a rich white kid from a good neighbourhood doesn’t “sound great.”
“Sam isn’t exactly going to be someone who fits into prison,” Shkreli said, adding that his “sensibility” won’t go over well there because it’s a “very testosterone filled, masculine place.”
Along with “shaving his head” and “deepening his voice,” Shkreli stated that SBF needs to make friends quickly and integrate himself into the prison culture. Pharma Bro, for example, stated that SBF should “no longer say he’s from Stanford [University].”
“He also doesn’t know anything about the streets or criminal culture; my advice is for him to learn about those things as soon as possible; he should listen to as much rap music as possible, and he should try everything there is to know about gangs.”
“This may sound ridiculous, but it could save your life,” Shkreli added.
Meanwhile, Sam Antar, the former CFO of Crazie Eddie, the notoriously corrupt 1980s company, gave Bankman-Fried an alternative piece of advice: “JUMP BAIL AND RUN […] They can only hang you once.”
Shkreli appears to have developed a penchant for giving crypto bad boys unsolicited prison advice. During an appearing on the The UpOnlyTV podcast last month, Shkreli was a guest alongside Terra/LUNA founder Do Kwon, and told him: “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 come to that. But if it does happen, it won’t be too bad.”
“That’s good to know,” Kwon said awkwardly.
The New York Post reported on December 26 that workers were spotted installing security cameras outside his parents’ house in Palo Alto, where the FTX founder is staying while under house arrest.
SBF is currently required to wear an ankle monitor and is only permitted to leave the house for exercise and treatment for mental health and substance abuse. He also has strict limits on the amount of money he can pay out.
He is scheduled to appear in court again in early January.
