A federal judge has ordered former pharmaceutical CEO Martin Shkreli to forfeit almost $7.4 million because of his fraud convictions past year.
The order, issued by District Judge Kiyo Matsumoto in Brooklyn, New York, would allow the government to go after Shkreli's assets. Although he hasn't been sentenced yet, he has been jailed since September after he offered a $5,000 bounty for some of Hillary Clinton's hair.
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. Turing is now Vyera.
"Once Upon A Time in Shaolin", a one-of-a-kind album by the hip-hop group Wu-Tang Clan, as well as any proceeds from the album's sale.
Martin Shkreli purchased the exclusive album for $2 million in 2015, but was convinced for multiple counts of fraud in 2017. He was found guilty past year on charges he cheated investors in two failed hedge funds.
Shkreli has also boasted of owning a Picasso painting. They said he spent investor funds on personal expenses "to maintain the image of a successful hedge fund manager".
The decision came four days before a scheduled hearing at which Shkreli faces a potential maximum prison sentence of 20 years.
The defense had argued that Shkreli shouldn't have to forfeit anything, because the hedge fund investors actually ended up making a profit. She said that regardless of the investors' ultimate gains, Shkreli got their money in the first place through fraud.