Prosecutors seek to seize assets of 'Pharma Bro' Shkreli

Paul Martinka  Splash News  Newscom

Paul Martinka Splash News Newscom

According to CNNMoney, Shkreli's prosecutors are seeking to seize $7.4 million in assets from Shkreli, who was convicted of securities fraud in August and later imprisoned.

Among the assets the Federal Bureau of Investigation proposed seizing are "the album "Once Upon A Time in Shaolin" by the Wu Tang Clan, as well as any proceeds derived from the sale of such album; the album "Tha Carter V" by Lil Wayne, as well as any proceeds derived from the sale of such album".

Martin Shkreli might have to forfeit his one-of-a-kind Wu-Tang album "Once Upon a Time in Shaolin".

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"Being involved in that game - the colour and the atmosphere around it - was one of the best days of my life", he said. I think that will really capture people's imagination at home.

They also asked for $5 million in cash that was held in an E*Trade account as security for Shkreli's bond; Shkreli's shares of Turing Pharmaceuticals, the drug company that rocketed him to infamy for raising the price of the medicine Daraprim; the Lil Wayne album "Tha Carter V;" an Enigma machine and a Picasso painting. A Brooklyn jury deliberated five days before finding Shkreli guilty on Friday on three of eight counts.

Shkreli paid about $2 million for the album in 2015.

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

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"We will vigorously oppose the government motion", Shkreli's lawyer, Benjamin Brafman, said in an email. 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.

"Our position is clear", Brafman said in a statement Friday.

He's scheduled to be sentenced January 16.

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"Now that Shkreli has been convicted, substitute assets of his have been located and should be applied to partially satisfy the forfeiture money judgment", the government said in a letter to U.S. District Judge Kiyo Matsumoto.

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