Disgraced “Pharma Bro” Martin Shkreli could be forced to turnover $7.4 million in assets as a result of being found guilty of defrauding investors in two of his personal hedge funds. Prosecutors rapped off a list of his assets that could pursue in an effort to make up that aforementioned figure Friday.
One particular item of note is the Wu-Tang Clan’s double album Once Upon A Time in Shaolin, of which just a single copy exists. Shkreli bought the album in a 2015 auction for $2 million. Now, the United States government could take it from him along with “any proceeds derived from the sale of such album.”
— David Mack (@davidmackau) December 1, 2017
The album’s current owner may not actually be Shkreli, who is believed to have sold it an eBay auction earlier this year for $1 million. Of course, those proceeds could be claimed in the government’s effort to recoup his assets. Shkreli famously bragged about not having paid much attention to the record, although he played snippets of it in a series of social media posts last year.
Shkreli was initially arrested for securities fraud in December of 2015. He had previously risen to infamy for raising the price of AIDS and cancer medications from $13.50 a pill to $750. So yeah, take him for everything he’s worth.