The U.S. government found a buyer for the Wu-Tang Clan album owned by Martin Shkreli that had only one physical copy in existence
The U.S. government on Tuesday said it had sold a unique Wu-Tang Clan album previously owned by former pharmaceutical executive Martin Shkreli, who was convicted of securities fraud in 2017.
The sale of the album, titled “Once Upon a Time in Shaolin,” will cover the balance of the $7.4 million in forfeiture that a judge ordered Mr. Shkreli to pay at a 2018 sentencing where he was also, federal prosecutors said. The sale contract includes a confidentiality provision that protects information about the price and buyer, according to federal prosecutors in Brooklyn, where Mr. Shkreli was tried.
Mr. Shkreli has said he paid $2 million for the album—of which only one physical copy exists—at an auction in 2015. “Shkreli has been held accountable and paid the price for lying and stealing from investors to enrich himself,” said Jacquelyn Kasulis, acting U.S. attorney for the Eastern District of New York, the office that brought the criminal case. “With today’s sale of this one-of-a-kind album, his payment of the forfeiture is now complete.”
Ben Brafman, a lawyer for Mr. Shkreli, said he was pleased that his client had satisfied his forfeiture obligation. “We are also pleased that he was able to sell the album for a price that is substantially more than that which he paid for it,” Mr. Brafman added.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kai Wu & Cherie Dimaline Adapting Horror Novel ‘Empire Of Wild’ As Series With Fabel EntertainmentEXCLUSIVE: Kai Wu, The Flash and Hannibal writer, has teamed up with author and screenwriter Cherie Dimaline to adapt the latter’s horror novel Empire of Wild. The pair are working with Fabel Enter…
Read more »
Marlboro maker Philip Morris says it could stop selling cigarettes in Britain within 10 yearsU.S. tobacco group Philip Morris International has reportedly said it plans to stop selling cigarettes in the U.K. in 10 years' time.
Read more »
KSI, Ed Sheeran Rule U.K. ChartsKSI bows at No. 1 on the Official U.K. Albums Chart with 'All Over the Place' (BMG), his second album.
Read more »
The World Ends With You: What We Lose When We Remake GamesAs good as The World Ends With You's remakes are, they're still missing the challenging, cooperative combat from the DS original. grace_machine looks at this lost piece of gaming's past.
Read more »
Kai Wu & Cherie Dimaline Adapting Horror Novel ‘Empire Of Wild’ As Series With Fabel EntertainmentEXCLUSIVE: Kai Wu, The Flash and Hannibal writer, has teamed up with author and screenwriter Cherie Dimaline to adapt the latter’s horror novel Empire of Wild. The pair are working with Fabel Enter…
Read more »
Dave Mustaine Confirms New Megadeth Album Title, Teases Song in CameoBand is still finishing up album ahead of tour, which kicks off next month
Read more »