Shkreli's Wu-Tang Album, Picasso Eyed for Forfeiture

Dec 02, 2017, 00:40
Shkreli's Wu-Tang Album, Picasso Eyed for Forfeiture

Federal prosecutors say "Pharma Bro" Martin Shkreli owes the U.S. government almost $7.4 million in forfeitures and authorities Friday filed a motion with U.S. District Judge Kiyo Matsumoto of the Eastern District of NY pointing to some of Shkreli's personal assets that could help make up the difference.

Notorious Pharma Bro Martin Shkreli is now locked up, awaiting sentencing on three felony accounts of security fraud.

Shkreli's counsel, private attorney Benjamin Brafman, could not be reached for comment. A Brooklyn jury deliberated five days before finding Shkreli guilty on Friday on three of eight counts.

Convicted former pharmaceutical executive Martin Shkreli should forfeit his copy of Wu-Tang Clan's "Once Upon a Time in Shaolin", rumored to be the album's only copy, as part of $7.4 million in assets federal prosecutors in Brooklyn are attempting to seize, according to a court filing.

Additionally, there was mention of Shkreli's copy of what may be "Tha Carter V", the lost double-album from rap legend Lil Wayne. "Accordingly, forfeiture of any assets is not an appropriate remedy".

Prosecutors say Shkreli accessed millions of dollars during the periods of time he committed securities fraud, and should be forced to "forfeit those funds he would not have had but for his criminal offenses".

Shkreli paid about $2 million for the album in 2015.

Shkreli spent months previous year, in the lead-up to his criminal trial, in a unusual game of cat-and-mouse with Lil Wayne to acquire the album.

Greebel's trial took Wednesday, Thursday and Friday off this week and should resume Monday.