Along with the Wu-Tang Clan "Once Upon a Time in Shaolin" album, prosecutors say Shkreli should give up $5 million in cash in a brokerage account, his interest in a pharmaceutical company and other valuables including a Picasso painting and another unreleased recording that he claims he owns, "Tha Carter V" by Lil Wayne.
Martin Shkreli, the pharma bro douchebag who made headlines up hiking the price of an AIDS drug called Daraprim by 5,000% later found himself in trouble with the feds over securities fraud. He is being held in a federal lockup in Brooklyn, New York, and is scheduled to be sentenced next month.
The Wu-Tang album authorities are trying to get him to handover was actually sold back in September for $1M on eBay, half of what he actually acquired it for.
Shkreli became an internet pariah in 2015 for increasing the price of a life-saving HIV medication from $14 to $750 per pill.
Prosecutors note that their diligent efforts to Shkreli's assets have not borne much fruit.
In a letter filed this week in Brooklyn federal court, prosecutors told a judge that Shkreli is on the hook for $7.3 million.
After buying the single-release album from the legendary NY hip hop group and agreeing at the time not to release it commercially for at least 88 years, the infamous businessman entered into a feud with Wu Tang's Ghostface Killah, who called Shkreli a "s**thead" when he learned who had purchased the record, according to outcome of Sound.
Shkreli spent months previous year, in the lead-up to his criminal trial, in a unusual game of cat-and-mouse with Lil Wayne to acquire the album. "Accordingly, forfeiture of any assets is not an appropriate remedy".
Shkreli's counsel, private attorney Benjamin Brafman, could not be reached for comment.
This comes in response to Shkreli's August conviction on two counts of securities fraud plus one of conspiracy to commit securities fraud.
Greebel's defense hinges on casting the lawyer as an unwitting pawn of Shkreli's machinations.