Lil Wayne & Wu-Tang Albums Could Be Seized From Martin Shkreli
Wu-Tang Clan’s Once Upon a Time in Shaolin and Lil Wayne’s Tha Carter V could very well be seized by the government, as controversial pharmaceutical mogul Martin Shkreli’s legal issues continue to mount.
Prosecutors are asking the federal courts to seize $7.4 million in assets from the incarcerated Shkreli, including $5 million in bail, a Pablo Picasso painting, and the aforementioned Wu-Tang album, which he reportedly purchased for $2 million, according to Bloomberg. Billboard reports that Weezy’s Carter V, which he purchased from a third party, was also part of this request.
#BREAKING the government wants Martin Shkreli to hand over the Wu Tang album in forfeiture (!!!) pic.twitter.com/bOzWjlLeOx
— David Mack (@davidmackau) December 1, 2017
Shkreli’s attorney Benjamin Brafman responded to the news, saying: “We will vigorously oppose the government motion. Our position is clear. None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction. Accordingly, forfeiture of any assets is not an appropriate remedy.”
It is unclear whether Shkreli still owns the Wu-Tang Clan album, which was allegedly sold for $1 million on eBay in September. The buyer remains unidentified.
Tha Carter V has generated other issues for Shkreli. In May, Wayne threatened to sue the businessman for leaking portions of the album.
In August, Shkreli was found guilty on two counts of securities fraud and one count of conspiracy. Prosecutors had accused Shkreli of “cheating investors out of more than $11 million between 2009 and 2014 in what amounted to a Ponzi scheme,” according to CNN.