Martin Shkreli ordered to forfeit $7.4 million in assets


Former drug company executive Martin Shkreli arrives at U.S. District Court for the third day of jury deliberations in his securities fraud trial in the Brooklyn borough of NY, U.S., August 2, 2017.

Martin Shkreli, you may remember, owns a Wu-Tang Clan album.

A USA judge on Monday ordered Martin Shkreli, former CEO of a drug company, to hand over more than 7.3 million US dollars in assets for his role in defrauding investors.

Brooklyn federal court Judge Kiyo Matsumoto gave the green light for federal prosecutors to also seize Shkreli's "Tha Carter V" album by Lil Wayne and an unidentified Picasso painting, according to court filings.

Shkreli, the man known by some of his less-sympathetic observers as "Pharma Bro", ended up getting convicted of securities fraud and arrested a month later for offering $5,000 for a strand of Hillary Clinton's hair.

Shkreli's lawyer did not return FOX Business' request for comment at the time of publication.

At any rate, the USA government believes it's still Shkreli's, and that it's valuable enough to include in the same list as a Picasso.

Shkreli has been in jail awaiting sentencing since September 2017 after his bail was revoked. Turing is now Vyera.

Matsumoto has already ruled that when Shkreli is sentenced, he will be held responsible for $10.4 million in losses, including all of the money his investors entrusted to his hedge funds. His conviction stems from charges that he defrauded investors in Retrophin, the pharmaceutical company he co-founded.



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