Feds Want to Seize Shkreli's Exclusive Copy of Wu-Tang Album

Feds Want to Seize Shkreli's Exclusive Copy of Wu-Tang Album

Feds Want to Seize Shkreli's Exclusive Copy of Wu-Tang Album

He was found guilty on three of eight counts of securities fraud - including cheating investors out of more than $11 million between 2009 and 2014 in a "Ponzi-like scheme" - and faces up to 20 years in prison.

After he was convicted, Shkreli put the Wu Tang Clan album - called "Once Upon a Time in Shaolin" - up for auction on eBay.

It's said that the double-disc copy of Lil Wayne's The Carter V amd the one-of-a-kind Wu-Tang Clan album (that might not even be an album) Once Upon a Time In Shaolin that he reportedly paid $2 million for are among the assets the feds are looking to take from Shkreli.

The government said in its submission Friday it may also seek a Picasso painting Shkreli owns, his Enigma machine from World War II and $5 million from his E-Trade brokerage account. In a filing Friday, prosecutors list assets they can seize that would satisfy their monetary demands.

Shkreli is notorious for raising prices exponentially on the Aids drug Daraprim, and for his unabashed responses to critics, which earned him the nickname "pharma bro". The former biotech CEO, known for provocative online antics, played short excerpts while live-streaming himself in his Manhattan apartment after President Donald Trump's election and his conviction.

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.

"We will vigorously oppose the government motion", said Shkreli's lawyer Ben Brafman in an email to CNNMoney. "None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction". "Accordingly, forfeiture of any assets is not an appropriate remedy". Several of Shkreli's former investors have testified in the trial.

Shkreli's attorney did not immediately respond to a request for comment.

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