Martin Shkreli must forfeit almost $7.4 million, judge orders
Martin Shkreli is Forced to Forfeit His $2 Million Wu-Tang Album
The $2 million Wu-Tangalbum could be hitting the market
The saga of the $2 million dollar Wu-Tang album continues.
On Monday, infamous pharma bro Martin Shkreli was ordered by Federal Judge Kiyo Matsumoto to forfeit about $7.36 million, as part of his upcoming criminal sentence.
READ:Pharma Bro Martin Shkreli Arrested After Putting a Bounty on Hillary Clinton's Hair
To satisfy this request, Shkreli has to forfeit his interest in "substitute" assets. This includes around $5 million he has in cash in an E-Trade brokerage account; a stake in his drug company Vyera Pharmaceuticals; a Picasso painting; Lil' Wayne's The Carter V album; and, of course, the $2 million dollar one-of-one Wu-Tang album, Once Upon a Time in Shaolin.
READ: Martin Shkreli Found Guilty of Security Fraud, Faces Up To 20 Years In Jail
Shkreli paid $2 million for the special album back in 2015. Last year, Shkreli tried to sell the album on eBay, before things fell apart. With the latest developments, we wonder how long will it take for the album to leak.
This ruling comes days before Shkreli is to be sentenced for defrauding investors in two hedge funds he ran. Shkreli could get up to 20 years in prison.
Source:CNBC
