Feds want to seize Martin Shkreli's Wu-Tang album

That one-of-a-kind Wu Tang Clan album might soon be owned by the U.S. government

They're also set to take a Picasso painting, an Enigma machine, $5 million in cash (from his E-Trade account), and his shares of Turing Pharmaceuticals.

While Martin Shkreli awaits sentencing for securities fraud, federal prosecutors have asked the court for permission to seize his assets in excess of $7 million. The letter identifies specific assets to be forfeited, including the famous "Once Upon a Time In Shaolin", the only extant copy of a Wu Tang Clan album Shkreli purchases and famously bragged about on social media.

The $7.36 million, the prosecutors wrote in a letter to Judge Kiyo Matsumoto Thursday, "represents a conservative computation of the proceeds Shkreli personally obtained as a result of his three different securities fraud crimes of conviction".

"These funds were, in essence, the life blood that fueled the fraud scheme", the prosecutors wrote of the estimated $3 million of the money he received from his activities at MSMB Capital hedge fund, $3.4 from MSMB Healthcare and $960,000 from biotech company Retrophin connected to his conspiracy to commit securities fraud conviction.

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Martin Shkreli, left, talks with reporters while standing next to his attorney Benjamin Brafman after leaving federal court in NY on August 4, 2017. Fans were initially disappointed when Wu-Tang chose to only release one copy of the album, with group leader RZA explaining that it would be auctioned off to the higher bidder in an attempt to "inspire creation and originality and debate, and save the music album from dying". "None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction".

Because of freakish threats against Hillary Clinton, posted to Facebook after his conviction, Shkreli has been awaiting his sentencing date in the custody of Brooklyn's Metropolitan Detention Center.

That means that Shkreli is (hopefully) out of this story, we're only entering a whole new chapter of who will own this one-of-a-kind album. In September, Shkreli posted Shaolin on eBay and registered a winning bid of $1 million by an unknown buyer.

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