Roommates, do you guys remember #MartinShkreli, the pharmaceuticals CEO who bought the #WuTangClan’s “Once a Time in Shaolin” album for $2 million? Well he was indicted on fraud charges last August after deceiving investors and misusing their money while holding a portfolio manager position at a hedge fund that was connected to Retrphin—one of the drug companies he owns.
It’s looking like Shkreli could spend up to 20 years in prison for these crimes, but the judge wants him to forfeit $7.36 million in assets. According to @XXLMag, Judge Matsumoto has ordered Shkreli to hand over Wu Tang Clan’s album even though he claims to have sold it on E-Bay for $1 million. The judge doesn’t believe him, however if Shkreli did sell it, then he’ll just have to add that cash to the rest of his tab.
Shkreli must also forfeit Lil Wayne’s #ThaCarterV LP that he reportedly possesses and cough up $5 million in an E-Trade brokerage account. He also has to give up his entire stake in the drug company ‘Vyera Pharmaceuticals’ plus a prized Pablo Picasso painting. Sheesh!
Shkreli is facing up to 20 years in jail and will be sentenced on Friday! He’s been locked up since last September.
TSR STAFF: Talia O. @theclosetratchet on IG