News

US sold single album by Wu-Tang Clan (which belonged to Shkreli)

Martin Shkreli, “The World’s Most Hated Entrepreneur”

The Wu-Tang Clan group’s album, confiscated in 2018 from former fund manager Martin Shkreli, also known as “the most hated businessman in the world”, has now been sold by the US government.

In a statement released this Tuesday, the US Department of Justice announced it had sold the single copy of the album “Once Upon a Time in Shaolin,” by hip-hop group Wu-Tang Clan, to a buyer whose identity remains confidential.

Proceeds from the sale – also undisclosed – reverted to the amount owed by Martin Shkreli resulting from his court conviction for fraud.

“Shkreli was held responsible and paid the price for lying and robbing investors to get rich. With the sale of this album, the payment of your debt is complete“, said, in the same statement, the prosecutor Jacquelyn Kasulis.

The former fund manager launched a revolt among fans of this hip-hop group for having spent millions of euros to buy the only copy of this album, then publicly announcing that he didn’t even intend to listen to it.

In 2017, remember, Shkreli, known as “the most hated businessman in the world”, was convicted of two counts of fraud and one of conspiracy to orchestrate a series of schemes to defraud investment fund investors and manipulate the value and exchange volume of a pharmaceutical stock.

The American was sentenced to seven years of imprisonment, followed by three years of supervised release, having to pay 388,000 dollars (328,000 euros) and a fine of 75,000 dollars (63,500 euros).

In statements quoted by the newspaper The New York Times, Shkreli’s lawyer, Brianne E. Murphy, said she had spoken with her client, who was satisfied with the value of the sale and added “RIP ODB”, recalling the rapper who was at the foundation of the Wu-Tang Clan and who died in 2004.

In April of last year, Shkreli wrote an article in which he asked to be released so that he could help develop a treatment for covid-19.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
WP Twitter Auto Publish Powered By : XYZScripts.com