Former pharmaceutical executive Martin Shkreli lost his bid on Friday to vacate one of his three felony securities fraud convictions while his legal team presented arguments to push back against the government’s efforts to seize more than $7.3 million of Shkreli’s assets.

Shkreli was convicted in August after a six-week trial on two counts of securities fraud and a related conspiracy charge running a scheme in which he defrauded investors into two hedge funds he created to launch a pharmaceutical company, eventually paying back the hedge fund investors from the proceeds.

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