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Martin Shkreli’s Wu-Tang Clan album likely sold for just $2.2M: Sources

The Wu Tang Clan has helped “Pharma Bro” Martin Shkreli repay his money owed to Uncle Sam — however simply barely.

In asserting the sale of Shkreli’s one-of-a-kind Wu-Tang Clan album, “As soon as Upon A Time In Shaolin,” federal prosecutors mentioned the “Pharma Bro” formally paid off the $7.4 million he was ordered to fork over after he was convicted for fraud in 2017.

Sources now inform The Publish that courtroom filings tied to the sale point out that the album bought for precisely what Shkreli nonetheless owed the feds — or simply $2.238 million.

Shkreli purchased the collectors merchandise — referred to by prosecutors merely because the “Album” — for $2 million in 2015. For a revenue of simply $238,000, the still-jailed ex-pharmaceutical exec might need been higher off investing within the S&P 500.

“If it had bought for any greater than $2.2 million, the federal government would disclose there was cash leftover,” a lawyer near the case defined.

Certainly, authorized filings in Shkreli’s felony case present prosecutors calling it “case closed” on Shkreli’s $7.4 million forfeiture order.

Any remaining belongings they’ve seized — together with shares of Turing Prescription drugs and an engraving on paper by Picasso — can now be handed over to repay Shkreli’s civil money owed, the feds mentioned.

A Wu-Tang Clan album
Martin Shkreli purchased the collectors merchandise — referred to by prosecutors merely because the “Album” — for $2 million in 2015.
United States Marshals Service/Handout by way of Reuters

If the inventory is sufficient to pay these money owed — together with a $2.6 million judgement for consulting companies supplied to one in every of Shkreli’s pharma corporations — the Picasso might even be returned to Shkreli, the feds mentioned.

No point out was fabricated from some other belongings, together with money left over from the sale of “As soon as Upon a Time In Shaolin.”

The feds declined to remark.

Regardless of shedding the coveted file to repay his money owed, Shkreli is in good spirits, his lawyer, Brianne Murphy, instructed The Publish.

RZA onstage with imagery of the Wu-Tang logo in the background
Wu-Tang member RZA has beforehand expressed curiosity in shopping for the coveted album again from Shkreli.
Redferns by way of Getty Pictures

From jail, Shkreli instructed Murphy that he was “happy with the sale worth and RIP ODB,” an obvious reference to Russell Tyrone Jones, a late cofounder of the group who glided by the stage title Ol’ Soiled Bastard.

The client of the album was saved underneath wraps, however Wu-Tang Clan followers are hoping a member of the group behind songs like “C.R.E.A.M.” and “Convey Da Ruckus” snatched it up.

One of many group’s members, RZA, has beforehand expressed curiosity in shopping for the coveted album again from Shkreli. In one interview, he even likened the album to the Mona Lisa, saying “it’s received its personal folklore.”

Martin Shkreli
Imprisoned former pharmaceutical exec Martin Shkreli was mentioned to be happy by the sale of his coveted Wu-Tang album to an nameless purchaser.
REUTERS/Brendan McDermid/File Photograph

“I can’t touch upon Wu-Tang or the customer,” mentioned Peter Scoolidge, lawyer for the nameless purchaser. However the secret could also be out quickly, he advised. “You’ll be listening to from the customer and events within the subsequent 30 to 60 days,” he mentioned.

The album is coveted as a result of only one copy was made. However extra individuals received an opportunity to hearken to it for the primary time tied to the sale, Scoolidge mentioned.

“We listened to all of the tracks simply to ensure there was no degradation,” Scoolidge mentioned of the expertise, which passed off in a secret authorities warehouse.

“It was sort of awkward. We have been in a room with a bunch of US Marshals . . . they’re not lure followers,” he mentioned referring to a subgenre of hip hop that originated within the early Nineties. 

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