First he lost his freedom; now they're coming for his music. Once Martin Shkreli was the smirking "Pharma Bro" who induced outrage by jacking up the price of a life-saving drug and insulting his detractors on social media.
Now he's inmate No. 87850-053 at the Metropolitan Detention Center in Brooklyn, awaiting sentencing for his securities fraud conviction among terrorism and mob suspects.
The feds now have their sights on his music—specifically the one-of-a-kind Wu-Tang Clan album Shkreli bought for $2 million in 2015.
According to the Associated Press, the recording is on a list of assets that prosecutors argue the former pharmaceutical CEO should forfeit after his conviction this year in a securities fraud scheme. In a letter filed in Brooklyn federal court, prosecutors told a judge that Shkreli, 34, is on the hook for $7.3 million.
Along with the Wu-Tang Clan "Once Upon a Time in Shaolin" album, prosecutors say Shkreli should give up $5 million in cash in a brokerage account, his interest in a pharmaceutical company and other valuables including a Picasso painting and another unreleased recording that he claims he owns, "Tha Carter V" by Lil Wayne.
Defense attorney Ben Brafman said Shkreli would fight the forfeiture.
A judge revoked Shkreli's $5 million bail and threw him behind bars in September after he offered a $5,000 bounty on Facebook for a strand of Hillary Clinton's hair. He's due back in court for sentencing early next year, when the forfeiture demand will be decided.
