Feds want 'Pharma Bro' Martin Shkreli's Wu-Tang Clan album

Martin Shkreli arrives at federal court in New York for the fifth day of deliberations at his securities fraud trial. The government wants to seize Shkreli's one-of-a-kind Wu Tang Clan album as one of the assets pro

The Governments Wants To Seize Martin Shkreli's One-Of-A-Kind Wu Tang Album

The government, in papers filed in federal court in Brooklyn on Thursday, said it wants Shkreli to forfeit some $7.4 million in assets pursuant to his conviction. Among the calculations was $3 million for schemes at hedge fund MSMB Capital, $3.4 million from MSMB Healthcare, and $960,000 on conspiracy to commit securities fraud at his biotech company Retrophin.

The so-called "Pharma Bro" - once dubbed the "most hated man in America" - was convicted of fraud in August and remains in custody after having his bail revoked over threatening comments made about Hillary Clinton on social media. After trying to hike up the price of AIDS medication, he ended up copping the one of a kind Wu-Tang Clan Album Once Upon A Time In Shaolin and by luck, got his hands on Lil Wayne's highly-anticipated Tha Carter V. He has released a portion of the album via a YouTube livestream. They are also hoping to seize a Picasso painting and an original Enigma machine, which Shkreli has described as a "Nazi relic" as it was used by the German military in the second world war.

The court is asking the already jailed Turing Pharmaceuticals CEO to turn over substitute assets, which would include a single-copy album by the Wu Tang Clan called Once Upon a Time in Shaolin, for which Shkreli paid $2 million.

"We will vigorously oppose the government motion", Shkreli's lawyer, Benjamin Brafman, has said in response.

The Wu-Tang album authorities are trying to get him to handover was actually sold back in September for $1M on eBay, half of what he actually acquired it for. "Accordingly, forfeiture of any assets is not an appropriate remedy", Brafman said.

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