NEW YORK (1010 WINS) -- One of the world’s most sought-after albums has been sold by the United States after it was once held by “Pharma Bro” Martin Shkreli, the Department of Justice announced on Tuesday,
The U.S. sold the sole copy of Staten Island-based Wu-Tang Clan’s “Once Upon A Time in Shaolin” on after Shkreli was forced to forfeit it as part of his 2018 sentencing. He reportedly paid $2 million for it originally.
The person who bought the album and for how much is not known as part of a confidentiality provision, according to the Department of Justice’s Eastern District of New York. The amount gained, though, is enough to cover Shkreli’s outstanding owed balance.
Shkreli was convicted in 2017 on two counts of securities fraud and a count of securities fraud conspiracy for being part of schemes to defraud hedge fund investors and manipulating the stock price of a biopharmaceutical company that he was he chief executive officer for.
Shkreli was sentenced to seven years in jail, followed by three years of supervised release. After the U.S. Supreme Court declined to review the case, the album was seized.
The one-of-a-kind album was bought by Shkreli in 2015, as part of a package that included a “hand-carved nickel-silver box” and a “leather-bound manuscript” that had the album’s lyrics and a certificate of authenticity.
An investor consortium involved with the album says the rap supergroup’s work includes 31 songs and “is the first high-profile album never to be commercially released to the public and the first of its kind in the history of music.”
Shkreli had tried selling the album online following his conviction before he was forced to forfeit it.