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.