NEW YORK (AP) – An unreleased Wu-Tang Clan album forfeited by Martin Shkreli after his securities fraud conviction was sold on Tuesday for an undisclosed sum, though prosecutors said it was enough to fully satisfy the rest of what he owed on a USD7.4 million forfeiture order he faced after his 2018 sentencing.
The entrepreneur known as ‘Pharma Bro’ once boasted that he paid USD2 million in 2015 at auction for Once Upon a Time in Shaolin, the 31-track double album the multiplatinum rap group spent six years creating.
“With today’s sale of this one-of-a-kind album, his payment of the forfeiture is now complete,” Acting United States Attorney Jacquelyn M Kasulis in Brooklyn said in a release.
Authorities said the sales contract for the album contained a confidentiality provision that protects information relating to the buyer and price.
In a civil case in Manhattan federal court, lawyers wrote in an April document that Shkreli had already reduced his forfeiture debt by about USD5 million.
Shkreli’s lawyer, Brianne E Murphy, said she spoke to Shkreli late Tuesday and he said he is “pleased with the sale price and RIP ODB”, a reference to Russell Tyrone Jones, a founding member of the nine-man Clan who died of an accidental drug overdose in 2004.
Shkreli, 38, is scheduled for release in October 2022 after serving a seven-year prison sentence.