Feds Seek Shkreli's Wu-Tang Record, Picasso Painting in Forfeiture Motion


According to docs, obtained by TMZ, prosecutors are going after Martin's assets - totaling almost $7.4 million - to pay down what he owes in restitution after getting convicted of defrauding investors.

Federal prosecutors say "Pharma Bro" Martin Shkreli owes the U.S. government almost $7.4 million in forfeitures and authorities Friday filed a motion with U.S. District Judge Kiyo Matsumoto of the Eastern District of NY pointing to some of Shkreli's personal assets that could help make up the difference.

Shkreli, assailed as "Pharma Bro" after dramatically increasing the price of a life-saving drug, was convicted in August of defrauding investors in two of his hedge funds and scheming to control shares in Retrophin Inc. The letter identifies specific assets to be forfeited, including the famous "Once Upon a Time In Shaolin", the only extant copy of a Wu Tang Clan album Shkreli purchases and famously bragged about on social media. Along with the disk set, which he bought two years ago for $2 million from the celebrated NY hip-hop group, the government said it may also seek a Picasso painting he owns, his Enigma machine from World War II, and his interest in Turing Pharmaceuticals AG. A Brooklyn jury deliberated five days before finding Shkreli guilty on Friday on three of eight counts.

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Shkreli may no longer own the Wu Tang album, according to Bloomberg News.

He's scheduled to be sentenced January 16. Shkreli later apologized and said he was joking. "Our position is clear".

Shkreli's lawyer is arguing since of his investors lost any money, he shouldn't have to give anything up. "Accordingly, forfeiture of any assets is not an appropriate remedy", Brafman said. Several of Shkreli's former investors have testified in the trial.