Reviled "Pharma Bro" and securities fraudster Martin Shkreli may have to part with some serious cash-or prized possessions-after U.S. Attorney Bridget M. Rhode requested the courts impose a forfeiture of more than $7.3 million on the shameful son of Sheepshead Bay.
Prosecutors said Friday Shkreli should be forced to forfeit $7.4 million, which could include $5 million in bail money and the album "Once Upon a Time in Shaolin".
Shkreli was convicted in August on two counts of securities fraud and one count of conspiracy to commit securities fraud, in connection with two hedge funds and a biotech company he ran. It's said that the double-disc copy of Lil Wayne's The Carter V amd the one-of-a-kind Wu-Tang Clan album (that might not even be an album) Once Upon a Time In Shaolin that he reportedly paid $2 million for are among the assets the feds are looking to take from Shkreli. He was found not guilty on five other counts. They say the items authorities are trying to seize are $5 million in cash that is held in an E-Trade brokerage account, shares in Turing Pharmaceuticals, an Enigma machine as well as a Picasso painting. Shkreli's convictions had nothing to do with Daraprim.More news: Edge for Android racks up over 500000 downloads
"We will vigorously oppose the government motion", Shkreli's lawyer, Benjamin Brafman, said in an email.
TMZ spoke to his attorney, Ben Brafman, who told them, "Our position is clear". The album was put up for sale on eBay in September and appeared to have been sold for about $1 million, although no buyer has been identified. "Accordingly, forfeiture of any assets is not an appropriate remedy".
Shkreli is now in jail in Brooklyn and is scheduled to be sentenced on January 16, 2018.