Pharma Bro Martin Shkreli ordered to forfeit $7.36 million

  • Pharma Bro Martin Shkreli ordered to forfeit $7.36 million

Pharma Bro Martin Shkreli ordered to forfeit $7.36 million

Convicted fraudster Martin Shkreli will have to forfeit $7.36 million to the federal government as part of his upcoming criminal sentence, a judge ruled Monday. Convicted of numerous counts of fraud past 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.

Last June, Shkreli's lawyer Benjamin Brafman said that the fraudster's share of Vyera was worth roughly between $30 million and $50 million.

Federal prosecutors have been trying to get their hands on convicted felon and categorically awful person Martin Shkreli's assets since December, a few months after he was convicted of three counts of securities fraud and one count of conspiracy to commit securities fraud. Shkreli, for some reason, had both the rare Wu-Tang album that cost $2M as well as Lil Wayne's controversial Carter V album that he says he found in a Bugatti he bought.

Included in the assets is the Wu Tang Clan album, Once Upon a Time in Shaolin.

His defence team argued Shkreli should not have to forfeit anything for his crimes, but were ultimately unsuccessful.

In a previous ruling, Judge Matsumoto ruled that Shkreli's crimes resulted in almost $10.5 million in losses, which could mean a sentence on the harsher side.

Shkreli is set to be sentenced on March 9 and could face more than 10 years in prison. I was a fool. But shortly after the supposed sale Shkreli was jailed after making some weird posts about Hillary Clinton on social media. "I accept the fact that I made serious mistakes, but I still believe that I am a good person with much potential". The sentence comes just a few months after his arrest.