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Tuesday, March 6, 2018

Judge Orders Martin Shkreli to Forfeit Stake in $2 Million Wu-Tang Album


Infamous Pharmabro Martin Shkreli was one of the worst people of 2017, but CNBC​ is reporting that he's finally getting what he deserves. Convicted of numerous counts of fraud last year, Shkreli first made headlines when he raised the price of a Daraprim, a drug used by HIV patients, from $13.50 a pill to $750. Then, things got a lot worse when it was reported that he was the one who had bought the ultra-rare one-of-a-kind Wu-Tang Clan album Once Upon a Time in Shaolin for $2 million.

Last year, Shrkeli put the album up for sale on eBay, selling it for just over $1 million, but now CNBC says he's being ordered to forfeit his stake in the album. In fact, judge Kiyo Matsumoto said that he has to forfeit a total of $7.76 million to the federal government as part of his criminal sentence. These assets include $5 million in cash in an E-Trade brokerage account that previously allowed Shkreli's release bond, his take in drug company Vyera Pharmaceuticals, Once Upon a Time in Shaolin​, a painting by Pablo Picasso, and even the Lil Wayne album he reportedly has, which is none other than The Carter V.

[via COMPLEX]