Martin Shkreli Feds Want Wu-Tang, Lil Wayne Albums

Martin Shkreli

Martin Shkreli departs the U.S. District Court for the Eastern District of New York onĀ Aug. 1 2017. Drew Angerer Getty Images

On Friday, prosecutors asked the court to slap Shkreli with a $7.4 million fine, while identifying "substitute assets" he could surrender to cover the total cost.

Last August, Shkreli was convicted of securities fraud, and he's now in jail awaiting sentencing.

Prosecutors are also asking for Shkreli's shares of Turing Pharmaceuticals, $5 million in cash that was held in an E*Trade account, his Lil Wayne album Tha Carter V, a Picasso painting, and an Enigma machine.

Shkreli is best known for raising the price of Daraprim, a then-62-year-old drug frequently used to treat HIV patients, from $13.50 to $750 a pill.

The letter presented to the judge on his case states these assets represent "a conservative computation of the proceeds Shkreli personally obtained as a result of his three different securities fraud crimes of conviction".

Splash News/NewscomLawyers for the US government are asking a judge to order the forfeiture of millions of dollars' worth of noted "pharma bro" Martin Shkreli's assets, including an unreleased, one-of-a-kind Wu-Tang Clan album. None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction. In September, Shkreli posted Shaolin on eBay and registered a winning bid of $1 million by an unknown buyer. "Accordingly, forfeiture of any assets is not an appropriate remedy", Brafman said.

In an effort to sell their album as "a piece of art" rather than just simply releasing the music, Shkreli's purchase of the exclusive and unheard work caused, to quote Wu-Tang Clan, "a motherfucking ruckus" amongst jealous audiophiles and pretty much anyone who knows the repugnant back-story behind Shkreli's insane wealth.

Latest News