Martin Shkreli ordered to pay out $7 million for criminal activities
Pharma bro Martin Shkreli has been ordered to pay out over seven million dollars in reparations after he was found guilty of fraudulent activity.
The disgraced executive of drug company Retrophin was found guilty of manipulating the stock price of his company.
He was also found to have lied to investors about the success of two hedge funds that he manages.
The 34-year-old is awaiting one more conviction, but so far he has been ordered to pay out $7.36 million.
Shkreli has claimed that he is cash poor, which means he will have to hand over “substitute assets” to the government.
Related: ‘Pharma bro’ Martin Shkreli locked up for violent Hillary Clinton threat
Included in the assets is the Wu Tang Clan album, Once Upon a Time in Shaolin.
Only one version of the album exists, and Shkreli purchased it for two million dollars in 2015, before his misconduct came to light.
However, it is unclear if the album, which came in a silver-and-nickel-plated box with 174-page liner notes bound by hand in leather, is still in Shkreli’s possession as he listed it for sale on eBay last year.
A painting by Pablo Picasso, an unreleased Lil Wayne album, five million dollars held in an E-Trade brokerage account and his shares in Vyera Pharmaceuticals will also have to be handed over.
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