US judge orders ex-drug executive Shkreli to give up $7.36 million

Martin Shkreli must forfeit $7.36 million, turn over stake in ultra-rare Wu-Tang Clan album: Judge

Martin Shkreli must forfeit $7.36 million, turn over stake in ultra-rare Wu-Tang Clan album: Judge

A federal judge in Brooklyn has ordered former pharmaceutical executive Martin Shkreli to forfeit $7.36 million in assets that include the infamous Wu-Tang Clan album he paid $2 million for.

It's said that in addition to "Once Upon a Time in Shaolin", Shkreli will also have to relinquish a Pablo Picasso painting, his copy of Lil Wayne's delayed and unreleased "Tha Carter V" album, as well as a $5 million bond.

Judge Kiyo Matsumoto said that in order to satisfy that award amount Shkreli - who was said to be completely cash-broke a year ago by his lawyer - must forfeit his interest in a set of "substitute" assets.

A lawyer for Shkreli could not immediately be reached for comment on the judge's order.

"Once Upon A Time in Shaolin", a one-of-a-kind album by the hip-hop group Wu-Tang Clan, as well as any proceeds from the album's sale.

Scott McTominay: Man Utd midfielder's Scotland pledge a 'great coup' - Darren Fletcher
Scott McTominay has been accused of electing to represent Scotland instead of England because he "wants his summers off". He made his senior debut against Arsenal in May and has played 17 games, including starting the past three.

In August, a jury convicted Shkreli of securities fraud while he was a portfolio manager at a hedge fund. The defense argued unsuccessfully Shkreli should forfeit nothing.

Shkreli is scheduled to be sentenced for securities fraud on Friday.

Although the $10.4 million loss will result in a higher recommended sentence under federal guidelines, Matsumoto is not required to follow those guidelines. His conviction stems from charges that he defrauded investors in Retrophin, the pharmaceutical company he co-founded.

Shkreli's lawyers have asked that he be sentenced to 12 to 18 months in prison.

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