Pharma Bro Forfeiture: Shkreli May Pay Millions, Lose Legendary Wu Tang Album
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.
In a schadenfreude-inducing letter, Rhode spells out the potential fines for Shkreli, who was convicted of securities fraud earlier this year.
In a “conservative computation of the proceeds Shkreli personally obtained as a result of his three different securities fraud crimes of conviction,” the recommendation calls for three forfeitures for Shkreli, in amounts pf $2,998,000, $3,403,450 and $960,000 respectively for three different counts of securities fraud.
The grand total would be $7,360,450 for the 34-year old Shkreli.
Of course, the U.S. Attorney was helpful enough to help Shkreli locate his pockets, or at least enumerate a few sources of cash for the hefty fine. The letter identifies specific assets to be forfeited, including the famous “Once Upon a Time In Shaolin,” the only extant copy of a Wu Tang Clan album Shkreli purchases and famously bragged about on social media.
Additionally, there was mention of Shkreli’s copy of what may be “Tha Carter V,” the lost double-album from rap legend Lil Wayne. The album was reportedly set for release before label drama between Wayne and Cash Money co-founder Birdman caused the album to be shelved.
Finally, the letter names a Picasso painting and the Enigma Code Machine, a famed device used to transmit encrypted messages in World War II, as two more assests the price-gouging convict should have to sell in order to pay up.
After the “most hated man in America” rose to prominence increasing the cost of a life-saving drug from $13.50 to $750, then continued a smirking social-media campaign to extend his 15 minutes of infamy, it’s hard to think anyone who’ll feel bad when the courts take his rich boy toys.
