Federal Judge Orders Martin Shkreli to Forfeit Wu-Tang Clan Album

Martin Shkreli is already facing major jail time. Source Getty

A federal judge has ordered former pharmaceutical CEO Martin Shkreli to forfeit almost $7.4 million because of his fraud convictions previous year.

It's said that in addition to "Once Upon a Time in Shaolin", Shkreli will also have to relinquish a Pablo Picasso painting, his copy of Lil Wayne's delayed and unreleased "Tha Carter V" album, as well as a $5 million bond.

Former pharmaceutical executive Martin Shkreli has been ordered by a federal judge to forfeit $7.36 million in assets.

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Benjamin Brafman, Shkreli's lead defense attorney, did not immediately respond to a message seeking comment on the decision.

The assets include $5 million in cash in an E-Trade brokerage account used as security for Shkreli's bail and Shrkeli's shares and interest in Vyera Pharmaceuticals, formerly known as Turing Pharmaceuticals.

"Once Upon A Time in Shaolin", a one-of-a-kind album by the hip-hop group Wu-Tang Clan, as well as any proceeds from the album's sale.

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Shkreli, who first became infamous for hiking the price of a life-saving HIV drug, was convicted of securities fraud.

Prosecutors last month argued that Shkreli cost his investors more than US$20 million by inducing them to put millions of dollars into his two hedge funds which operated essentially like Ponzi schemes.

The forfeiture order does not include any fines or restitution Matsumoto might impose at sentencing.

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The 34-year-old Shkreli was known as "Pharma Bro" on social media.

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