Self-styled Pharma bro and villain Martin Shkreli has been ordered by a federal judge to hand over $7.36 million in assets, including the sole copy of Wu-Tang Clan’s Open Upon a Time in Shaolin. This comes after his conviction for securities fraud in 2017, ahead of his upcoming sentence.
The sentencing for his trial takes place on Friday (March 9), for two counts of securities fraud and conspiracy for deceiving and defrauding investors. He’s most notorious for raising the price of the drug Daraprim exponentially, a medication in the treatment of HIV/Aids patients. He’s also widely recognised as a 4-Chan hyped up, attention-seeking asshole that’s harassed journalists and made a threat against Hillary Clinton (which made a judge revoke his bail).
Shkreli bragged about buying the super rare album for $2 million at auction in 2014. As Vulture reports, he will also be forced to forfeit an unreleased Lil Wayne album, and a Picasso artwork as well as millions in capital from a brokerage account.
Back in 2015, RZA said the sale of Wu-Tang’s album came “before Martin Shkreli’s business practices came to light”, according to the Verge. The record comes in a silver plated box, with leather-bound liner notes. Its owner can do anything with it except release it commercially (an 88-year ban precedes over that). Last year, Shkreli held a live stream interview, where he played snippets of the album. Though he claims to have sold the album on, this has yet to be verified, and the feds will expect either the physical record or the proceeds from its sale.
The rap group shared a diss track, “Lesson Learn’d”, about their dealings with the former hedge fund manager in September 2017.
Shkreli faces up to 20 years in prison and could spend at least a decade behind bars.