Martin Shkreli has been ordered to hand over $7.3M in assets.
Martin Shkreli has been making headlines over the past few years for upsetting the majority of people. Some of those people include Wu-Tang Clan, Lil Wayne and their respective fan base. Shkreli, for some reason, had both the rare Wu-Tang album that cost $2M as well as Lil Wayne's controversial Carter V album that he says he found in a Bugatti he bought. As part of his criminal sentence, Mr. Pharmabro himself has been ordered to hand over both albums to the federal government.
Shkreli's been ordered to hand over $7.3M in assets to the federal government as part of his criminal sentence, CNBC reports. Judge Jiyo Matsumoto said that he has to forfeit his interest from "substitute" assets. Included in these assets are both Lil Wayne's Carter V as well as Wu-Tang Clan's Once Upon A Time In Shaolin. Other assets include $5M in cash from an E-Trade brokerage account that he used for his release bond and his stake in Vyera Pharmaceuticals, a company previously known as Turing Pharmaceutical, which he started in 2015.
The seizure of his assets will then be applied to the rest of the amount he has to pay the government after "the resolution of any third-party claims to the assets," the judge said this morning in court.
Shkreli's official sentencing for fraud charges will happen this Friday in Brooklyn, NY. He was convicted last summer for misleading the finances in two hedge funds he ran to their group of investors as well as manipulating stock shares in drug company, Retrophin.