Court forcing Martin Shkreli to give up his rare $2m Wu-Tang Clan album
Martin Shkreli is set to be forced to give up his rare, unheard and one-of-a-kind Wu-Tang Clan album as part of his fraud conviction.
Shkreli, dubbed the msot hated man in America, infamously bought the only known copy of the record entitled Once Upon A Time In Shaolin back in 2015 and has refused to let anybody else listen to it.
According to reports covering Shkreli’s case, prosecutors said on December 1st that Shkreli needs forfeit $7.4 million (£5.48m), including $5 million (£3.7m) in bail money as well as his Wu-Tang album which was purchased for $2 million (£1.48m).
“We will vigorously oppose the government motion,” Shkreli’s lawyer, Benjamin Brafman, has said in response. “Our position is clear. None of the investors lost any money and Martin did not personally benefit from any of the counts of conviction. Accordingly, forfeiture of any assets is not an appropriate remedy.”
Shkreli recently listed the album for sale on eBay, the description of the listing declared: “This is the one and only Wu-Tang album.
“I decided to purchase this album as a gift to the Wu-Tang Clan for their tremendous musical output,” it reads. “Instead I received scorn from at least one of their (least-intelligent) members, and the world at large failed to see my purpose of putting a serious value behind music. I will be curious to see if the world values music nearly as much as I have. I have donated to many rock bands and rappers over the years to ensure they can continue to produce their art when few others would.
“At any time I may cancel this sale and I may even break this album in frustration,” he continues. “I will donate half of the sale proceeds to medical research. I am not selling to raise cash–my companies and I have record amounts of cash on hand. I hope someone with a bigger heart for music can be found for this one-of-a-kind piece and makes it available for the world to hear.”