Prosecutors want to seize $7.4 million from Martin Shkreli—including his Wu-Tang album
8 months ago admin2 Comments Off on Prosecutors want to seize $7.4 million from Martin Shkreli—including his Wu-Tang album
US prosecutors are trying to seize $7.4 million from “pharma bro” Martin Shkreli—including his one-of-a-kind Wu-Tang Clan album.
Published| Photo by Reuters/Lucas Jackson
A federal jury convicted Shkreli of fraud and conspiracy in August, for lying to investors and paying them with assets looted from a third company.
Shkreli, currently held in a federal prison in Brooklyn, is expected to be sentenced in January and could get up to 20 years for securities fraud.
Prosecutors in Brooklyn have filed paperwork to confiscate Shkreli’s ill-gotten assets, including a Picasso painting, his Enigma machine, and the Wu-Tang album “Once Upon a Time in Shaolin,” which Shkreli bought for $2 million in 2015.
But it’s not clear Shkreli still owns the album. Bloomberg reports that it was put up for sale on eBay in September and “appeared to have been sold for about $1 million.”