Former Drug Executive Martin Shkreli Ordered to Surrender $7.36 Million

Martin Shkreli makes a face as his attorney Benjamin Brafman talks about his client's reputation while talking to reporters in front leaving federal court in New York Friday Aug. 4 2017. The former pharmaceutical CEO has been convicted on federal charg

NEW YORK-Martin Shkreli has been ordered by a federal judge to hand over almost $7.4 million, a victory for prosecutors who claimed the onetime hedge fund manger swindled his investors.

Judge Kiyo Matsumoto ruled that in order for Shkreli - whose lawyer said he was completely cash-broke past year - to reach the award amount he must forfeit the interest in a series of so-called "substitute" assets.

Other assets Shkreli will most likely have to fork over include the Lil' Wayne album Tha Carter V, a Pablo Picasso painting, and his $5 million bond.

His lawyer didn't immediately respond to a request for comment.

Shkreli has been behind bars since September, when Matsumoto ordered him jailed for turned to social media and urged followers to get him a sample of former secretary of state Hillary Clinton's hair.

Vyera was formerly known as Turing Pharmaceuticals, which Shkreli founded and gained infamy for in 2015 after raising the price of its anti-parasite drug Daraprim by more than 5,000 percent. The conviction stems from alleged schemes in which he improperly used stock from a pharmaceutical company to repay investors who had lost money in two hedge funds he previously directed.

Matsumoto's ruling in Brooklyn, NY, federal court came in advance of Friday's scheduled sentencing for the 34-year-old Shkreli.

Shkreli's lawyers have asked that he be sentenced to 12 to 18 months in prison.

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