Remember when disgraced “pharma bro” Martin Shkreli bragged about purchasing Wu-Tang Clan’s $2 million Once Upon a Time in Shaolin album? In 2015, the former pharmaceutical executive won the CD at an auction and attempted to sell it in 2017.
Now, Shkreli must hand over the rare project after being ordered by U.S. District Judge Kiyo Matsumoto to forfeit $7.36 million in assets. He will also allegedly give up an unreleased Lil Wayne album, a Picasso, and money from his brokerage account.
Shkreli was convicted of two counts of securities fraud and a conspiracy charge after defrauding investors in MSMB Capital and MSMB Healthcare, all of which was related to his decision to purchase the manufacturing rights to the anti-parasitic drug Daraprim, typically used by HIV/AIDS patients, and jack up the price sky high. Shkreli is scheduled to be sentenced on Friday.
EDNY Judge Kiyo Matsumoto has ordered that Martin Shkreli must forfeit more than $7.3 million in assets.
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
— Andrew Denney (@messagetime) March 5, 2018