Martin Shkreli Owes $4.6 Million in Back Taxes

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Martin Shkreli is at the face of controversy again as he owes $4.6 million in back taxes.

Martin Shkreli
Source: Time

A week after refusing to testify before Congress, the former Turing Pharmaceuticals CEO — who raised the price of AIDS medication Daraprim from $13.50 to $750 — is now facing a new lien for $4,628,928 in unpaid taxes.

The Internal Revenue Service (IRS) invoked that lien against Shkreli’s property in midtown Manhattan on Dec. 18, a day after he was arrested by the FBI on federal securities fraud charges.

The agency filed the lien Jan. 11 with the Office of the City Register in New York. The majority of Shkreli’s unpaid taxes — $4.625 million — was incurred in 2014.

Another $3,431 in unpaid taxes were incurred in 2013, according to the lien. The lien gives the IRS the right to its cut of any proceeds of a sale of Shkreli’s property.

“I have no comment,” said Shkreli’s criminal defense lawyer Benjamin Brafman, when asked about his client’s tax lien.

Shkreli recently angered rap and music fans by buying the only copy of Wu-Tang Clan’s new album, refusing to share it online and threatening band member Ghostface Killah.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/02/martin-shkreli-taxes/.

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