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.

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Martin Shkreli Sentenced To 7 Years In Prison For Fraud

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As reported by the Chicago Tribune, Shkreli was today (March 9) given a seven-year sentence for “defrauding investors in two failed hedge funds.” The formal charge is securities fraud and the conviction was handed down by U.S. District Judge Kiyo Matsumoto. According to the report, Shkreli cried in court and told the judge “I want the people who came here today to support me to understand one thing, the only person to blame for me being here today is me. I took down Martin Shkreli.” His attorney, Benjamin Brafman, reportedly told Judge Matsumoto “that he sometimes wants to hug Shkreli and sometimes wants to punch him in the face.”

However, as the judge made clear, Shkreli’s sentencing had nothing to do with his “self-cultivated public persona … nor his controversial statements about politics or culture.” Rather, Matsumoto called his crimes serious and agreed with prosecuting attorneys that “the 34-year-old was a master manipulator who conned wealthy investors.”

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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]