Featured Image for ‘Pharma bro’ Martin Shkreli ordered to forfeit infamous $2 million Wu-Tang album

‘Pharma bro’ Martin Shkreli ordered to forfeit infamous $2 million Wu-Tang album

It appears convicted fraudster Martin Shkreli, often referred to as “the most hated man in America”, has hit rock bottom.

Shkreli aka ‘Pharma bro’ was ordered to forfeit $7.36 million by a US judge on Monday as part of his criminal sentencing. That includes his exclusive, one-of-a-kind Wu-Tang Clan album, Once Upon a Time in Shaolin.

Shkreli earned the world’s hate back in 2015 when one of his companies, Turing Pharmaceuticals, obtained the manufacturing license for the antiparasitic drug Daraprim just to raise its price by a factor of 56, rocketing prices from US$13.5 to US$750 per pill.

Shkreli also attracted an incredible amount of hate online that same year after he purchased the only copy ever produced of the album Once Upon a Time in Shaolin by the Wu Tang Clan.

He won it at an auction via Paddle8 for US$2 million, turning it into the most expensive album ever sold.

On Monday, Judge Kiyo Matsumoto ordered Shkreli to forfeit his interest in a set of “substitute assets” after he declared to be completely cash-broke last year.

Those “substitute assets” include $5 million in cash in an E-Trade brokerage account, his stake in the drug company Vyera Pharmaceuticals, a Picasso painting and two of the world’s rarest albums, Lil’ Wayne’s The Carter V and the aforementioned Once Upon a Time in Shaolin.

In 2017, a jury found the disgraced CEO guilty on two counts of securities fraud and one count of conspiracy to commit securities fraud. He was found innocent on five other related counts.

Martin Shkreli is set to be sentenced this Friday, March 9 and is facing a conviction of at least ten years in prison.

In October 2016, Shkreli claimed on Twitter that he would release Once Upon a Time in Shaolin for free if Donald Trump won the 2016 election. He also promised he’d destroy it if Hillary Clinton was the winner.

Predictably, he didn’t fulfil his promise and only shared the intro and one track.

About the author

Filmmaker. 3D artist. Procrastination guru. I spend most of my time doing VFX work for my upcoming film Servicios Públicos, a sci-fi dystopia about robots, overpopulated cities and tyrant states. @iampineros

Leave a comment