Martin Shkreli must forfeit almost $7.4 million, a federal judge in Brooklyn ruled Monday, a move that could force the ex-pharmaceutical executive to give up a one-of-a-kind Wu-Tang Clan album.
This means he'll have to give up some of his prized possessions, including a painting by Pablo Picasso, a copy of the unreleased Lil' Wayne album "Tha Carter V" and the world's only pressing of the Wu-Tang Clan album "Once Upon a Time in Shaolin".
However, the judge stayed the execution of her order, and the seizure of the substitute assets pending the resolution of Shkreli's planned appeal of his conviction.
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Shkreli, who first became infamous for hiking the price of a life-saving HIV drug, was convicted of securities fraud.
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.
"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. The defense argued unsuccessfully Shkreli should forfeit nothing. His conviction stems from charges that he defrauded investors in Retrophin, the pharmaceutical company he co-founded.
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The $7.36 million forfeiture doesn't include fines, penalty or restitution Matsumoto might impose during his sentencing.
The decision came four days before a scheduled hearing at which Shkreli faces a potential maximum prison sentence of 20 years.
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