Martin Shkreli Ordered to Hand over $7.3M in Assets, Including His One-of-a-kind Wu-Tang Clan Album

‘Pharma Bro’ Martin Shkreli, who is currently awaiting sentencing for securities fraud, has been ordered to forfeit $7.3m in assets—including a one-of-a-kind Wu-Tang Clan album he famously bought for $2 million.

In the order issued by U.S. District Judge Kiyo Matsumoto, Shkreli will have to give up his stake in Wu-Tang’s "Once Upon a Time in Shaolin" along with $5 million in cash from a brokerage account. If that wasn’t enough, Shkreli will have to give up "Tha Carter V" by Lil Wayne, another unreleased recording he claimed to own, the Associated Press reported.

Shkreli will have a chance to appeal before handing over all the assets, which also include a Picasso painting and his stake in Vyera Pharmaceuticals.

The 34-year-old, who became notorious for his irreverent persona and dismissal of public outrage, was found guilty of cheating investors of two hedge funds he managed. He will be sentenced on Friday, March 9.

Shkreli wrote to the judge at the end of February asking for leniency in his sentencing. In a letter, the former executive wrote that ways he had acted had been “wrong” and even added, “I was a fool. I should have known better.”

Shkreli has been in jail since his bail was revoked after a social media post where he said he would give $5,000 for a lock of Hillary Clinton’s hair. He later wrote on Facebook that he had been contacted by the Secret Service but would not doing an interview with them because his “schedule is full.”

He described jail as “both the most frightening experience in my life but also an opportunity for me to see a side of the world seldom seen or discussed.” Defense has asked for a sentence not over 18 months with the prosecutors' recommendation still pending.

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