You are here
Home > NEWS > Feds Demand Martin Shkreli Forfeit Unreleased Wu-Tang and Lil Wayne Albums

Feds Demand Martin Shkreli Forfeit Unreleased Wu-Tang and Lil Wayne Albums

The Feds are coming for all that unreleased music that Pharma Bro Martin Shkreli compiled during his brief run as the most hated man on the internet. According to The Source Brooklyn prosecutors are asking authorities to seize over $7 million in cash and assets from the disgraced businessman, including his one--a-kind copy the Wu-Tang Clan’s Once Upon A Time In Shaolin, his copy Tha Carter V, an Enigma machine, and a painting by Picasso.

The prosecutors claim that the assets are all part the case against him for securities fraud and should be seized. Ultimately, they claim that the assets were gained as part the elaborate Ponzi scheme Shkreli was running.

Since Shkreli has been convicted on the charges running a Ponzi scheme, they believe the ill-gotten goods should be forfeited.

Prosecutors are asking for a $7.36 million forfeiture from Shkreli as part his conviction. In a letter to United States District Judge Kiyo Matsumoto, prosecutors say the number “represents a conservative computation the proceeds Shkreli personally obtained as a result his three different securities fraud crimes conviction.”

In addition to the albums and artwork, they are also demanding Shkreli’s shares Turing Pharmaceuticals and an E-trade account worth $5 million.

Top