Former drug company executive Martin Shkreli may have to give up a Picasso and a one-of-a-kind Wu-Tang Clan album, after a U. S. judge on Monday ordered him to forfeit $7.36 million following his conviction of defrauding investors. U. S. District Judge Kiyo Matsumoto in
Former drug company executive Martin Shkreli may have to give up a Picasso and a one-of-a-kind Wu-Tang Clan album, after a U. S. judge on Monday ordered him to forfeit $7.36 million following his conviction of defrauding investors.
U. S. District Judge Kiyo Matsumoto in Brooklyn said the assets Shkreli could forfeit to satisfy the judgment also include $5 million in a brokerage account and his stake in Vyera Pharmaceuticals, one of the drug companies he founded.
Shkreli is scheduled to be sentenced for securities fraud on Friday.
A lawyer for Shkreli could not immediately be reached for comment on the judge’s order.
Shkreli, 34, has been in jail since September, when Matsumoto revoked his bail after he offered a $5,000 bounty for a strand of Hillary Clinton’s hair in a Facebook post.
Shkreli became notorious as the“Pharma Bro” when he raised the price of anti-parasitic drug Daraprim by over 5,000 percent in 2015 while he was chief executive officer of Turing Pharmaceuticals.
