KXIP vs KKR Live Score

Shkreli's interest in Daraprim maker Turing Pharmaceuticals should also be forfeited, as should the $5 million put up as bond in an E-Trade brokerage account, according to the letter.

"[The sum] represents a conservative computation of the proceeds Shkreli personally obtained as a result of his three different securities fraud crimes of conviction", the prosecutors wrote in a letter to a judge on November 30.

Martin Shkreli was convicted of securities fraud in August. 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. He is being held in a federal lockup in Brooklyn, New York, and is scheduled to be sentenced next month.

However, his attorney Ben Brafman told TMZ that his client is not looking to give up any of it. "Forfeiture of any assets is not an appropriate remedy", Brafman said.


Like his threats against Clinton and gleeful price hiking of life-saving medications, Shkreli's ownership of the Wu-Tang Clan's "Once Upon a Time in Shaolin" has been a sideshow of his criminal case. "Our position is clear: None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction", Brafman said in a statement.

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. He then listed the item on eBay in a September 2017 auction, receiving bids in excess of $1 million, though it's unclear whether the purchase went through.

Prosecutors say Shkreli's assets subject to forfeiture also include an Enigma code-breaking machine from World War II and an unspecified Picasso. Shkreli later apologized and said he was joking.


COMMENTS