NEW YORK – The government wants to seize Martin Shkreli‘s one-of-a-kind Wu-Tang Clan album.
The recording that Shkreli has boasted he bought for $2 million is on a list of assets that prosecutors argue the jailed former pharmaceutical CEO should forfeit after his conviction earlier this year in a securities fraud scheme involving two failed hedge funds.
In a letter filed this week in Brooklyn federal court, prosecutors told a judge that Shkreli is on the hook for $7.3 million.
READ MORE: Wu-Tang Clan diss ‘Pharma Bro’ Martin Shkreli on new song ‘Lesson Learn’d’
The 34-year-old “should be held financially responsible and forfeit this amount as it was obtained by him as a result of the fraud,” the letter says.
Along with the Wu-Tang Clan “Once Upon a Time in Shaolin” album, prosecutors say Shkreli should give up $5 million in cash in a brokerage account, his interest in a pharmaceutical company and other valuables including a Picasso painting and another unreleased recording that he claims he owns, “Tha Carter V” by Lil Wayne.
WATCH: Former drug CEO wants you to punch him in the face
Defence attorney Ben Brafman said on Friday that Shkreli would fight the forfeiture.
“Our position is clear: None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction,” Brafman said in a statement. “Accordingly, forfeiture of any assets is not an appropriate remedy.”
READ MORE: Martin Shkreli releases Wu-Tang Clan songs after Donald Trump victory promise
The boyish Shkreli is best known for jacking up the price of a life-saving drug and for his snide online “Pharma Bro” persona.
A judge revoked Shkreli’s $5 million bail and threw him behind bars in September after he offered a $5,000 bounty on Facebook for a strand of Hillary Clinton’s hair. He’s due back in court for sentencing early next year, when the forfeiture demand will be decided.
Comments