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Martin Shkreli had the only copy of a Wu-Tang Clan album. The U.S. government just sold it to cover his debt.
Sonia Rao, The Washington Post
July 27, 2021
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FILE - In this Aug. 3, 2017, file photo, Martin Shkreli arrives at federal court in New York. Seth Wenig/Associated Press
The exclusive Wu-Tang Clan album once belonging to former hedge fund manager Martin Shkreli was sold Tuesday to an unnamed buyer, according to federal prosecutors. Shkreli, who was convicted of securities fraud and conspiracy, forfeited the album after his sentencing three years ago.
The money from the sale covered the remainder of a roughly $7.4 million debt Shkreli owed the government as part of his sentencing in March 2018, according to a Department of Justice news release. Due to a confidentiality agreement between prosecutors and the buyer, the release did not disclose how much the album sold for.
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.
US sells Pharma Bro Shkreli s Wu-Tang Clan album geo.tv - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from geo.tv Daily Mail and Mail on Sunday newspapers.
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.
Once Upon a Time in Shaolin.
The unreleased album, which was seized from convicted pharmaceutical CEO Martin Shkreli, was sold Tuesday to an anonymous buyer for an undisclosed amount, according to a press release from the acting U.S. Attorney for the Eastern District of New York.
Proceeds from the sale will go toward a $7.4 million forfeiture judgment that Shkreli was required to pay as a result of his securities fraud conviction in 2018.
“Shkreli has been held accountable and paid the price for lying and stealing from investors to enrich himself,” said Jacquelyn M. Kasulis, the Acting United States Attorney for the Eastern District of New York. “With today’s sale of this one-of-a-kind album, his payment of the forfeiture is now complete.”