Prosecutors seek to seize assets of 'Pharma Bro' Shkreli

Shkreli's Wu-Tang Album Could Be Seized by US Prosecutors

According to docs, obtained by TMZ, prosecutors are going after Martin's assets - totaling almost $7.4 million - to pay down what he owes in restitution after getting convicted of defrauding investors. He's either getting hit in the face with dog shit, getting threatened with lawsuits by Lil Wayne, or having to deal with the feds, who are now looking to seize the rare Wu-Tang Clan and Lil Wayne albums he has in his possession.

In a schadenfreude-inducing letter, Rhode spells out the potential fines for Shkreli, who was convicted of securities fraud earlier this year.

In 2015, the brash pharmaceutical executive bought the only known copy of the Wu-Tang Clan's "Once Upon a Time in Shaolin" for $2 million.

The government said in its submission Friday it may also seek a Picasso painting Shkreli owns, his Enigma machine from World War II and $5 million from his E-Trade brokerage account. A Brooklyn jury deliberated five days before finding Shkreli guilty on Friday on three of eight counts.

"We will vigorously oppose the government motion", said Benjamin Brafman.

Apple hits Qualcomm with countersuit for infringing on battery patents
Earlier in July, Qualcomm accused Apple of infringing numerous patents linked to helping mobile devices get improved battery life. In a related suit, Qualcomm sued the contract manufacturers that make Apple's phones, but Apple joined in to defend them.

Shkreli's attorney, Ben Brafman, tells TMZ, "Our position is clear".

Martin Shkreli, CEO of Turing Pharmaceutical, being arrested on securities fraud allegations. "Accordingly, forfeiture of any assets is not an appropriate remedy".

They tallied $3 million for schemes at the hedge fund MSMB Capital, $3.4 million at MSMB Healthcare, and $960,000 for his conviction on conspiracy to commit securities fraud at the biotech company Retrophin.

Shkreli is now in jail in Brooklyn and is scheduled to be sentenced on January 16, 2018.

In his eBay listing, Shkreli said he has not "carefully listened to the album", and the work remains the subject of intrigue.

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