Judge orders Martin Shkreli to forfeit $7.4 million

Martin Shkreli (MGN file)

(ABC News) — Martin Shkreli must forfeit nearly $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.

Shkreli is scheduled to be sentenced March 9 for defrauding investors in two hedge funds he ran. The defense argued unsuccessfully Shkreli should forfeit nothing.

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The judge said the defense argument “ignores the jury’s verdict in this case.”

Shkreli, who first became infamous for hiking the price of a life-saving HIV drug, was convicted of securities fraud.

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According to court records, his assets include “Once Upon a Time in Shaolin,” a Wu-Tang Clan album for which Shkreli paid a reported $2 million at auction. Among other assets: a Picasso painting, shares in a pharmaceutical company and $5 million in an E-Trade account.

Shkreli has been behind bars since September when a judge found he broke the terms of his bail by offering social media followers money for a hair sample from then-presidential candidate Hillary Clinton.

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