USA judge orders ex-drug executive Shkreli to give up $7.36 mln

Reuters

Reuters

Martin Shkreli must forfeit almost $7.4 million, a federal judge in Brooklyn ruled Monday, a move that could force the ex-pharmaceutical executive to give up a one-of-a-kind Wu-Tang Clan album.

His lawyer didn't immediately respond to a request for comment on Monday. Shkreli's $5 million bail was revoked in September after he posted on Facebook a $5,000 offer for a strand of Hillary Clinton's hair during her book tour.

Those assets include a $5 million E-Trade account, a stake in a drugmaker, the Wu-Tang Clan album Shkreli purchased for $2 million in 2015, a Lil Wayne album, an enigma machine, and a Picasso painting. Turing is now Vyera.

The 34-year-old Shkreli was known as "Pharma Bro" on social media.

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The decision came four days before a scheduled hearing at which Shkreli faces a potential maximum prison sentence of 20 years.

And, if indeed he does still have it and can't pay back the millions he owes, the world may get yet another auction of Once Upon A Time In Shaolin - this time, by US officials. They said he spent investor funds on personal expenses "to maintain the image of a successful hedge fund manager".

The defense had argued that Shkreli shouldn't have to forfeit anything, because the hedge fund investors actually ended up making a profit. Money from his investors went into the stock market, and he didn't get anything from his plan to control Retrophin shares, his lawyers have said.

The $7.36 million forfeiture doesn't include fines, penalty or restitution Matsumoto might impose during his sentencing.

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