An appeals court Thursday affirmed the 2017 securities fraud conviction of “pharma bro” Martin Shkreli.

The United States Court of Appeals for the Second Circuit ruled it found arguments that Shkreli was convicted following faulty jury instructions by a district court judge “without merit.”

It also affirmed Brooklyn federal Judge Kiyo Matsumoto’s decision that Shkreli owes $7,360,450 in forfeiture.

The decision follows arguments earlier this month before the three-judge panel, as well as the 36-year-old’s transfer to a Pennsylvania prison after he was reportedly found using a contraband cellphone to run his business from behind bars.

“We are disappointed with the court’s decision,” defense attorney Ben Brafman said. It wasn’t immediately clear if Shkreli would appeal to a higher court.

Shkreli was sentenced to seven years in prison following his conviction on two counts of securities fraud and one count of conspiracy to commit securities fraud.

He’s scheduled for release in 2023.