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Disgraced pharmaceutical executive Martin Shkreli has been ordered by federal judge Kiyo Matsumoto to forfeit more than $7.3 million in assets, which will likely include his copy of a rare Wu-Tang Clan album.
EDNY Judge Kiyo Matsumoto has ordered that Martin Shkreli must forfeit more than $7.3 million in assets.— Andrew Denney (@messagetime) March 5, 2018
Yes, that includes the one of a kind @WuTangClan album, Once Upon a Time in Shaolin, which he says he bought for $2 milliom
Check @NYLawJournal soon for a story
In December, it was reported that Shkreli, who was convicted on three counts of securities fraud last summer, would have to pay $7.4 million in restitution, which could include his reportedly rare copy of Wu-Tang Clan’s Once Upon a Time in Shaolin and his alleged copy of Lil Wayne’s The Carter V. Shkreli reportedly paid $2 million for the sole copy of the Wu-Tang album in 2015, though its authenticity remains in question.
His assets also include a Picasso, $5 million in an E-Trade account, and a stake in Vyera Pharmaceuticals.
Shkreli reportedly wrote a letter to Matsumoto last month, asking for leniency in sentencing, claiming: “I accept the fact that I made serious mistakes, but I still believe that I am a good person with much potential.” He has been in jail since September, after asking for a sample of Hillary Clinton’s hair on Facebook and having his bond revoked.
Shkreli is set to be sentenced on March 9 and could face more than 10 years in prison.
Audra Schroeder is the Daily Dot’s senior entertainment writer, and she focuses on streaming, comedy, and music. Her work has previously appeared in the Austin Chronicle, the Dallas Observer, NPR, ESPN, Bitch, and the Village Voice. She is based in Austin, Texas.