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

NEW YORK – DECEMBER 17 Martin Shkreli CEO of Turing Pharmaceutical being arrested on securities fraud allegations

Martin Shkreli, the "pharma bro" who faces up to 20 years in prison for securities fraud, may be forced to turn over his copy of the Wu-Tang Clan album "Once Upon a Time in Shaolin". For one, the judge may side with Shkreli and refuse to grant the assets forfeiture claim.

In 2015, the ex-Turing CEO was heavily criticized for raising the cost of the life-saving drug Daraprim by 5,000 percent.

Shkreli is awaiting his January 16 sentencing in a Brooklyn jail.

According to court documents filed Thursday, the US government wants to seize the Wu-Tang Clan album that Martin Shkreli, the imprisoned former pharmaceuticals CEO, is believed to possess.

Later, the album became the focus of two multi-million-dollar lawsuits and, additionally, allegations that it might not be an actual Wu-Tang Clan album after all.

Prosecutors note that their diligent efforts to Shkreli's assets have not borne much fruit.

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In an effort to recover $7.3m in forfeitures from the convicted hedge fund manager and pharmaceutical ceo Martin Shkreli, federal prosecutors filed a motion in NY court on Friday (1 December) that says he should be forced to give up, among other valuable assets, a Picasso painting now in his possession. Prosecutors also asked to seize his copy of the Lil Wayne album, The Carter IV, in addition to $5 million in cash, a valuable Picasso painting, and a World War II-era Enigma code-breaking machine used against Nazi Germany.

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. "Accordingly, forfeiture of any assets is not an appropriate remedy", Brafman said.

Shkreli's counsel, private attorney Benjamin Brafman, could not be reached for comment.

Shkreli is now being held at the Metropolitan Detention Center in Brooklyn, New York, after he was found guilty of three charges related to securities fraud in August this year.

Greebel's defense hinges on casting the lawyer as an unwitting pawn of Shkreli's machinations.

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