WENY News - Hearing Set On If US Will Seize Assets Of 'Pharma Bro'

Hearing Set On If US Will Seize Assets Of 'Pharma Bro'

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NEW YORK (AP) - "Pharma Bro" Martin Shkreli is due back in court for a hearing about whether he should forfeit millions of dollars in assets including a one-of-a-kind Wu-Tang Clan album as part of his conviction in a securities fraud scheme.  
The hearing is scheduled for Friday in federal court in Brooklyn.
The brash former pharmaceuticals company CEO was convicted in August of cheating investors in two failed hedge funds.
Prosecutors say Shkreli is on the hook for more than $7 million. His lawyers argue he owes nothing because his investors didn't lose the money.
Shkreli is perhaps best known for boosting the price of a life-saving drug.
He was out on bail during his trial but was jailed when a judge decided he'd made veiled online threats against Democrat Hillary Clinton.

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