U.S. judge orders Martin Shkreli to give up $7.36-million

Reuters

Reuters

Martin Shkreli - convicted fraudster of Vyera Pharmaceuticals - received his sentence today, which includes giving up the Wu-Tang Clan album he bought in an auction.

Judge Kiyo Matsumoto said that in order to satisfy that award amount Shkreli - who was said to be completely cash-broke previous year by his lawyer - must forfeit his interest in a set of "substitute" assets.

A USA judge on Monday ordered Martin Shkreli, former CEO of a drug company, to hand over more than 7.3 million US dollars in assets for his role in defrauding investors.

The judge said the assets won't be seized until Shkreli has a chance to appeal.

At any rate, the USA government believes it's still Shkreli's, and that it's valuable enough to include in the same list as a Picasso. The judge revoked the bail and jailed him in September when he posted he would pay a $5,000 bounty to anyone who could get a lock of Hillary Clinton's hair while the prominent Democrat was on a book tour.

A jury found Shkreli guilty last August of securities fraud charges unrelated to Daraprim. They determined that he lied to investors about the performance of his hedge funds, MSMB Capital and MSMB Healthcare. They argued in a court filing that a lenient sentence is warranted because none of Shkreli's investors ultimately lost money.

Although the $10.4-million loss will result in a higher recommended sentence under federal guidelines, Matsumoto is not required to follow those guidelines.

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