USA wants 'Pharma Bro' Shkreli to forfeit $2M Wu-Tang album

Shkreli's Wu-Tang Album Could Be Seized by US Prosecutors

In 2015, the brash pharmaceutical executive bought the only known copy of the Wu-Tang Clan's "Once Upon a Time in Shaolin" for $2 million.

In an effort to recover $7.3m in forfeitures from the convicted hedge fund manager and pharmaceutical ceo Martin Shkreli, federal prosecutors filed a motion in NY court on Friday (1 December) that says he should be forced to give up, among other valuable assets, a Picasso painting now in his possession.

Shkreli's Wu-Tang Album Could Be Seized by US Prosecutors

Now, the Department of Justice wants Shkreli to forfeit the album, along with his shares to Turing Pharmaceuticals, an Enigma machine, a Picasso painting, and the copy of the unreleased Lil Wayne album "The Carter V", which Shkreli claims to own as well. A Brooklyn jury deliberated five days before finding Shkreli guilty on Friday on three of eight counts.

Martin Shkreli, left, talks with reporters while standing next to his attorney Benjamin Brafman after leaving federal court in NY on August 4, 2017.

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In a schadenfreude-inducing letter, Rhode spells out the potential fines for Shkreli, who was convicted of securities fraud earlier this year.

Because of freakish threats against Hillary Clinton, posted to Facebook after his conviction, Shkreli has been awaiting his sentencing date in the custody of Brooklyn's Metropolitan Detention Center. "Our position is clear". Among the listed assets are a Wu-Tang Clan's Once Upon A Time In Shaolin and Lil Wayne's The Carter V, the latter of which many doubted Shkreli actually owned and was just more trolling. "None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction".

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In his eBay listing, Shkreli said he has not "carefully listened to the album", and the work remains the subject of intrigue. "Accordingly, forfeiture of any assets is not an appropriate remedy", he said in a statement.

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