Published: Sat, December 02, 2017
Entertaiment | By Lawrence Myers

Feds want 'Pharma Bro' Martin Shkreli's Wu-Tang Clan album

Feds want 'Pharma Bro' Martin Shkreli's Wu-Tang Clan album

Shkreli spent months a year ago, in the lead-up to his criminal trial, in a odd game of cat-and-mouse with Lil Wayne to acquire the album.

The government wants to seize Martin Shkreli's one-of-a-kind Wu-Tang Clan album.

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Because of weird threats against Hillary Clinton, posted to Facebook after his conviction, Shkreli has been awaiting his sentencing date in the custody of Brooklyn's Metropolitan Detention Center.

In asking for forfeiture of $7.36 million they say Shkreli obtained as a result of committing securities fraud, the prosecutors said the jailed former pharma CEO should be forced to turn over substitute assets, including the single-copy album for which Shkreli paid $2 million.

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He's scheduled to be sentenced January 16. It is thought to have never been heard publicly otherwise. A listing for the album was posted on eBay and allegedly sold for $1 million in September - while Shkreli was in prison - though the buyer was never identified. The sale was completed while Shkreli was in jail, after his bail was revoked for posting a freakish request on Facebook to pay $5,000 for a strand of former Secretary of State Hillary Clinton's hair.

In a statement to TMZ, Shkreli's attorney Ben Brafman says, "Our position is clear". Shkreli later apologized and said he was joking. None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction. Several of Shkreli's former investors have testified in the trial. Some reported receiving well in excess of what they initially gave Shkreli.

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Assistant U.S. Attorney Claire Kedeshian calls the figure a "conservative computation" of the amount Shkreli should be made to forfeit after he was found guilty in August of three counts.

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