Monday, March 5, 2018

Martin Shkreli To Forfeit $2M Wu Tang Clan Album, Judge Rules | hypebot

image from"Pharma Bro" Martin Shkreli must forfeit more than $7.3 million in assets, including a one-of-a-kind Wu-Tang Clan album, as part of his punishment for commiting securities fraud, a judge ruled on Monday.

Shkreli bought the Wu-Tang Clan "Once Upon a Time in Shaolin"  for a reported $2 million. Now, he must give it up along with $5 million in cash in a brokerage account, a Picasso painting and another unreleased recording, "Tha Carter V" by Lil Wayne.

In a letter to the judge asking for leniency, the 34 year old wrote, "I was wrong. I was a fool. I should have known better."  The judge did say that he did not have to surrender the assets pending appeal.



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