Shkreli ordered to forfeit $7.36M in assets, could include Wu-Tang Clan album

Shkreli ordered to forfeit $7.36M in assets, could include Wu-Tang Clan album
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A federal judge has ordered former drug company CEO Martin Shkreli to forfeit $7.36 million in assets, Reuters reported Monday.

Those assets could include a Picasso painting and a single-copy Wu-Tang Clan album Shkreli won at auction.

Judge Kiyo Matsumoto said that Shkreli could also hand over $5 million in a brokerage account and his stake in Vyera Pharmaceuticals, a pharmaceutical company he founded.


Matsumoto ruled last week that Shkreli would be held responsible for $10.4 million in financial losses linked to his time as head of Turing Pharmaceuticals.

Shkreli argued that he didn’t cause any losses for investors because they ultimately received a profit. However, Matsumoto rejected the claim, saying that the former CEO had only returned the money to investors after they became suspicious.

The former pharmaceutical executive was launched into the public eye after he raised the price of an anti-infection drug used to treat AIDS and cancer patients, among others, by more than 5,000 percent.

Shkreli was convicted last August on three charges of deceiving hedge-fund investors. He will be sentenced on Friday, and could face up to 20 years in prison.

He was also ordered to await his sentencing in jail after he offered, via a Facebook post, $5,000 to anyone who got a sample of Hillary ClintonHillary Diane Rodham ClintonBudowsky: Closing message for Democrats Election Countdown: Dems outraise GOP in final stretch | 2018 midterms already most expensive in history | What to watch in second Cruz-O'Rourke debate | Trump raises 0M for reelection | Why Dems fear Avenatti's approach GOP mocks Clinton after minor vehicle collision outside Mendendez campaign event MORE’s hair. He later apologized for the post.

In 2015, Wu-Tang Clan released "Once Upon a Time in Shaolin," a single-copy album sold to the highest bidder: Shkreli, for a reported $2 million.