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Shkreli Ordered To Forfeit Millions In Assets, Including Rare Albums

A judge ordered Martin Shkreli to give up nearly $7.4 million in assets, which includes some of his most prized possessions.

Shkreli Ordered To Forfeit Millions In Assets, Including Rare Albums
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By Audrey Esther
SMS
March 5, 2018

A federal judge has ordered former pharmaceutical CEO Martin Shkreli to forfeit nearly $7.4 million because of his fraud convictions last year. 

This means he'll have to give up some of his prized possessions, including a painting by Pablo Picasso, a copy of the unreleased Lil' Wayne album "Tha Carter V" and the world's only pressing of the Wu-Tang Clan album "Once Upon a Time in Shaolin."

In August, a jury convicted Shkreli of securities fraud while he was a portfolio manager at a hedge fund.

Martin Shkreli and his defense team

Martin Shkreli Asks For Leniency Ahead Of Sentencing

The former pharmaceutical CEO sent a letter to the judge saying, "I still believe that I am a good person with much potential."

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He'll be sentenced in federal court on Friday and faces up to 20 years in prison.