The US Government Wants Martin Shkreli's Secret Wu-Tang Clan Album

  • The US Government Wants Martin Shkreli's Secret Wu-Tang Clan Album

The US Government Wants Martin Shkreli's Secret Wu-Tang Clan Album

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. In addition to his $5 million in bail, the government included his Picasso painting, Lil Wayne's Tha Carter V and Wu-Tang Clan's Once Upon a Time in Shaolin amongst other items as possibilities for forfeiture. Among the calculations was $3 million for schemes at hedge fund MSMB Capital, $3.4 million from MSMB Healthcare, and $960,000 on conspiracy to commit securities fraud at his biotech company Retrophin.

In court documents filed Thursday, the federal prosecutors said "Shkreli must forfeit $7,360,450.00 to the United States".

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".

Martin Shkreli, the "pharma bro" who faces up to 20 years in prison for securities fraud, may be forced to turn over his copy of the Wu-Tang Clan album "Once Upon a Time in Shaolin".

Shkreli's lawyer Ben Brafman was not immediately available to comment on the government filing. It's possible yet the public will get to hear that album, as the Department of Justice is demanding Shkreli fork it over as part of a $7.36 million forfeiture, CNBC reported on Friday. None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction. At one point, he put the album up for sale on Ebay, where it amassed bids upwards of $1 million, but it still appears to be in his possession at the time of writing.