Martin Shkreli in front of "Once Upon A Time In Shaolin" cover

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Martin Shkreli must forfeit rare Wu-Tang Clan album, judge orders

Shkreli might have to give up a rare Wu-Tang Clan album, but is it legit?

Mar 5, 2018, 2:27 pm

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Audra Schroeder 

Audra Schroeder

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.

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.

H/T New York Law Journal

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*First Published: Mar 5, 2018, 2:27 pm