Shkreli Ordered To Forfeit Millions In Assets, Including Rare Albums

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He later went on to try and sell the coveted album on eBay in late 2017.

Judge Kiyo Matsumoto handed the fraudster the sentence due to the fact that Shkreli's lawyer said he was cash-broke previous year, so he must forfeit his interest in a set of "substitute" assets.

Along with the Wu-Tang Clan "Once Upon a Time in Shaolin" album that Shkreli has boasted he bought for $2 million, he would have to give up $5 million in cash in a brokerage account. According to The Fader, ownership will now transfer to the General Services Administration where seized assets like the album will be auctioned off to bidders, sans contract, meaning that it could potentially be shared with the entire world one day.

Shkreli has also boasted of owning a Picasso painting.

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Matsumoto ordered Shkreli jailed in September after he issued a bounty on social media for a sample of former Secretary of State Hillary Clinton's hair.

A jury found him guilty last August of unrelated securities fraud charges. He is scheduled to be sentenced on March 9 for lying to investors in his hedge funds about his track record and performance as well as a fraud that involved a company he founded.

Shkreli's lawyers have asked that he be sentenced to 12 to 18 months in prison. They argued in a court filing that a lenient sentence is warranted because none of Shkreli's investors ultimately lost money.

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