Martin Shkreli may be forced to give up the exclusive album of Wu-Tang Clan, Picasso after a criminal conviction – The Denver Post – tech2.org

Martin Shkreli may be forced to give up the exclusive album of Wu-Tang Clan, Picasso after a criminal conviction – The Denver Post



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Federal prosecutors said Friday that Martin Shkreli, the former hedge fund manager known for raising the price of a critical drug, should lose more than $ 7 million in badets after being convicted of lying to investors.

Shkreli should deliver two rap albums, the only known copy of "Once Upon a Time in Shaolin" by Wu-Tang Clan and "Tha Carter IV" by Lil Wayne, as well as $ 5 million in cash, interest in a company that founded, Touring Pharmaceutical, and a painting of Picbado, prosecutors said. They also asked to renounce an Enigma codebreaker from the Second World War used against Nazi Germany.

Shkreli is being held at the Metropolitan Detention Center in Brooklyn, New York, while awaiting sentencing. The prosecutors' request did not mention how long they think it should serve. The most serious changes can lead to up to 20 years in prison.

The loss of $ 7,360,450 "represents a conservative estimate of the income that Shkreli personally obtained as a result of his three different offenses of bail bond fraud," Bridget M. Rohde Shkreli's lawyer did not immediately respond to a request for comment .

Shkreli was convicted this summer of tricking investors into two of its hedge funds, MSMB Capital and MSMB Healthcare. He lied to get his money and then to cover up mbadive losses after he made a bad bet on stocks, according to prosecutors. Shkreli challenged the charges and tried to convince the jury with a simple rebuttal: his investors were rich and sophisticated and finally made them richer.

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