U.S. Government Could 'Dispose Of' Martin Shkreli's Forfeited Lil Wayne & Wu-Tang Clan Albums

At the top of March, notorious "Pharma Bro" Martin Shkreli was sentenced to seven years in prison for various securities-fraud-related charges. Shkreli will also be forced to forfeit more than $7.3 million in assets as part of U.S. District Judge Kiyo Matsumoto's ruling, which includes his $2 million Wu-Tang Clan album Once Upon a Time in Shaolin, in addition to Lil Wayne's Tha Carter V to cover the fine.

According to the Department of Justice's filing earlier this week, the U.S. government "hereby give[s] notice of its intent to dispose of the forfeited property in such manner as the United States Attorney General may direct." The public has 60 days from filing day to "claim interest" in the property before being discarded.

Forbes reached out to a government representative who stated the albums' fate will, in turn, be decided "directly by the civil division of the U.S. Attorney's office for the Eastern District of New York." With that said, Justice Department head Jeff Sessions will remain "indirectly responsible" for the forfeiture case decision.

>> READ MORE via Billboard <<

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]