Martin Shkreli has been ordered to give up the Wu-Tang album he paid $2 million for

Martin Shkreli

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Martin Shkreli
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Reuters

  • Former pharmaceutical executive Martin Shkreli has been ordered by a federal judge to forfeit $7.36 million in assets.
  • Those assets include a $5 million E-Trade account, a stake in a drugmaker, the Wu-Tang Clan album Shkreli purchased for $2 million in 2015, a Lil Wayne album, an enigma machine, and a Picasso painting.
  • Shkreli has been in jail awaiting sentencing since September 2017 after his bail was revoked.

A federal judge in Brooklyn has ordered former pharmaceutical executive Martin Shkreli to forfeit $7.36 million in assets that include the infamous Wu-Tang Clan album he paid $2 million for.

The judge said that the assets on the table include Shkreli’s $5 million E-Trade account, stake in the pharmaceutical company Vyera Pharmaceuticals (formerly Turing Pharmaceuticals), the Wu-Tang Clan album Shkreli purchased in 2015, a Lil Wayne album, an enigma machine, and a Picasso painting.

Shkreli is known for a 2015 price-gouging scandal involving a decades-old drug his company acquired, but he is in jail because of securities fraud during his time running a hedge fund. Although he hasn’t been sentenced yet, he has been jailed since September after he offered a $5,000 bounty for some of Hillary Clinton’s hair.

His sentencing is scheduled for Friday.

“It was wrong. I was a fool. I should have known better,” Shkreli wrote in a letter to the judge requesting a sentence between 12 to 18 months.