Shkreli must turn over Wu Tang album, prosecutors tell court

Shkreli must turn over Wu Tang album, prosecutors tell court

Shkreli must turn over Wu Tang album, prosecutors tell court

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.

Pharma Bro and rich headass Martin Shkreli's is the bane of Hip-Hop culture since he has his hands on exclusive Wu-Tang Clan and Lil Wayne albums.

Shkreli was convicted in August on two counts of securities fraud and one count of conspiracy to commit securities fraud. That means that Shkreli is (hopefully) out of this story, we're only entering a whole new chapter of who will own this one-of-a-kind album.

Their seizure threats stem from prosecutors seeking money Shkreli owes after being convicted of defrauding investors.

Shkreli's interest in Daraprim maker Turing Pharmaceuticals should also be forfeited, as should the $5 million put up as bond in an E-Trade brokerage account, according to the letter.

Shkreli's attorney, Ben Brafman, tells TMZ, "Our position is clear". A listing for the album was posted on eBay and allegedly sold for $1 million in September - while Shkreli was in prison - though the buyer was never identified.

In a "conservative computation of the proceeds Shkreli personally obtained as a result of his three different securities fraud crimes of conviction", the recommendation calls for three forfeitures for Shkreli, in amounts pf $2,998,000, $3,403,450 and $960,000 respectively for three different counts of securities fraud. "Accordingly, forfeiture of any assets is not an appropriate remedy", Brafman said.

He's scheduled to be sentenced January 16. Several of Shkreli's former investors have testified in the trial.

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