Shkreli must turn over Wu Tang album, prosecutors tell court
02 December, 2017, 00:42 | Author: Courtney Perry
The letter identifies specific assets to be forfeited, including the famous "Once Upon a Time In Shaolin", the only extant copy of a Wu Tang Clan album Shkreli purchases and famously bragged about on social media. He's either getting hit in the face with dog shit, getting threatened with lawsuits by Lil Wayne, or having to deal with the feds, who are now looking to seize the rare Wu-Tang Clan and Lil Wayne albums he has in his possession. Along with the disk set, which he bought two years ago for $2 million from the celebrated NY hip-hop group, the government said it may also seek a Picasso painting he owns, his Enigma machine from World War II, and his interest in Turing Pharmaceuticals AG.
Dubbed "Pharma Bro", Shkreli is perhaps best known for hiking up the price of a life-saving drug and for trolling his critics on social media.
Shkreli's attorney, Ben Brafman, tells TMZ, "Our position is clear". None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction.
Martin Shkreli, CEO of Turing Pharmaceutical, being arrested on securities fraud allegations.
Prosecutors say Shkreli's assets subject to forfeiture also include an Enigma code-breaking machine from World War II and an unspecified Picasso.
The motion filed Friday argued that the forfeiture amount was based on Shkreli's defrauding investors in MSMB Capital and MSMB Healthcare, and from the funds generated from the Retrophin Inc. shares transferred to defraud MSMB investors to pay them off.
Shkreli paid about $2 million for the album in 2015. His sentencing is scheduled for next month.
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