Justice Served

Pharma Bro Martin Shkreli Could Lose His Rare Wu-Tang Clan Album

The convicted fraudster has to forfeit more than $7.3 million, a federal judge ruled Monday.

Sorry, bro! U.S. District Judge Kiyo Matsumoto ruled Monday that former pharma executive Martin Shkreli, who was convicted of securities fraud last year, must forfeit $7.36 million in assets as part of his punishment. That means he may have to hand over his Wu-Tang Clan Once Upon a Time in Shaolin album, which he bragged about buying at auction in 2015 for a cool $2 million. The one-of-a-kind album is listed with other valuables—including a Picasso painting and a Tha Carter V album by Lil Wayne— as his substitute assets, meaning he could hand them over to satisfy the $7.36 million he owes, according to court documents. At that point, the items would likely be sold off by the government at auction. Shkreli, whose assets won't be seized until he has an opportunity to appeal, will be sentenced Friday. He was convicted last summer of swindling wealthy investors by convincing them to put millions into two failing hedge funds he ran.