U.S. sells one-of-a-kind Wu-Tang Clan album seized from Martin Shkreli By Zoe Christen Jones How Martin Shkreli changed landscape on drug prices
The U.S. government has sold the only copy of the Wu-Tang Clan album Once Upon a Time in Shaolin, which had been seized from convicted pharmaceutical CEO Martin Shkreli after he was sentenced in 2018. The proceeds from the album sale will go towards money Shkreli was required to pay as a result of his conviction. Through the diligent and persistent efforts of this Office and its law enforcement partners, Shkreli has been held accountable and paid the price for lying and stealing from investors to enrich himself, Acting U.S. Attorney Jacquelyn M. Kasulis said in a Tuesday press release announcing the sale. With today s sale of this one-of-a-kind album, his payment of the forfeiture is now complete.
Those assets had included the Lil Wayne album Tha Carter V, an engraving on paper by Pablo Picasso and $5 million held in an E-Trade brokerage account.
Shkreli s trial lawyer Benjamin Brafman in an email to CNBC confirmed that the balance of Shkreli s forfeiture was satisfied by the sale.
Brafman also wrote, I can also confirm that the sale price was substantially more than what Mr. Shkreli paid for it.
Brafman declined to answer whether Shkreli would receive any of the proceeds of the sale after the amount taken to satisfy the forfeiture.
Shkreli bought the Wu-Tang Clan album at auction for a reported $2 million in 2015 giving him the only copy of the record, and allowing the New York City resident total control of whether anyone else could listen to the music on it.
U.S. sells âPharma Broâ Shkreliâs unique Wu-Tang Clan album By Syndicated Content
By Jonathan Stempel
NEW YORK (Reuters) â The U.S. government said it sold imprisoned drug company executive Martin Shkreliâs one-of-a-kind album by Wu-Tang Clan to pay off the $7.36 million he was ordered to forfeit after being convicted of fraud.
In a letter to U.S. District Judge Kiyo Matsumoto, who oversaw Shkreliâs 2017 trial in Brooklyn, prosecutors said the forfeiture amount has been fully satisfied following the sale of the album âOnce Upon a Time in Shaolinâ and other asset sales.
The sale price and buyer were not disclosed because of a confidentiality provision in the contract, prosecutors said.
U.S. sells Pharma Bro Shkreli s Wu-Tang Clan album
By Jonathan Stempel
Reuters
NEW YORK (Reuters) -The U.S. government said it sold imprisoned drug company executive Martin Shkreli s one-of-a-kind album by Wu-Tang Clan to pay off the $7.36 million he was ordered to forfeit after being convicted of fraud.
In a letter to U.S. District Judge Kiyo Matsumoto, who oversaw Shkreli s 2017 trial in Brooklyn, prosecutors said the forfeiture amount has been fully satisfied following the sale of the album, Once Upon a Time in Shaolin, and other asset sales.
The sale price and buyer were not disclosed because of a confidentiality provision in the contract, prosecutors said.
U.S. sells ‘Pharma Bro’ Shkreli’s Wu-Tang Clan album
FILE PHOTO: Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017. REUTERS/Carlo Allegri
July 28, 2021
By Jonathan Stempel
NEW YORK (Reuters) -The U.S. government said it sold imprisoned drug company executive Martin Shkreli’s one-of-a-kind album by Wu-Tang Clan to pay off the $7.36 million he was ordered to forfeit after being convicted of fraud.
In a letter to U.S. District Judge Kiyo Matsumoto, who oversaw Shkreli’s 2017 trial in Brooklyn, prosecutors said the forfeiture amount has been fully satisfied following the sale of the album, “Once Upon a Time in Shaolin,” and other asset sales.