The U.S. Government shares photos of the rare Wu-Tang Clan album. “Once Upon a Time in Shaolin,”According to Buzzfeed.
Martin Shkreli once owned the record. It is now known as “Pharma Bro,”The United States Government sold it, as the Department of Justice confirmed July.
It was reported that PleasrDAO, the cryptocurrency company, purchased the album in October. The New York Times.
PleasrDAO purchased and took possession the album on September 10, according The Times. The transaction was completed “in a complex deal with multiple parties, one of whom remains unidentified,”The Times reported this in October. PleasrDAO hopes the album will be made more accessible to the general public, provided it gets approval from RZA or producer Cilvaringz. Pitchfork reported.
The U.S. marshals took the album in 2018, after Shkreli was convicted for securities fraud. They ordered Shkreli to forfeit $7.36million. NME reported.
“Once Upon a Time in Shaolin,”The record became the most sought-after item among music fans. It apparently contained 31 songs and was secretly recorded by the Staten Island hip hop collective. Only one copy was ever made. The record is both an analogue and digital copy. “album and an artifact,”According to the DOJ.
The album comes with a hand-carved nickel-silver case and a leather-bound manuscript that contains lyrics and a certificate. There are also restrictions on the reproduction of its sound recordings.
“The intrinsic value of music has been reduced to zero,” the group explained on the album’s website. “Contemporary art is worth millions by virtue of its exclusivity. The album is a piece of contemporary art.”
Buzzfeed News obtained images of the album from the manufacturer, as well as the leather-bound manuscript, and the wooden box, which house all of the items, after a Freedom of Information Act request. The bill of sale was also included.
These photos and documents were taken by Buzzfeed can also be viewed here.
Shkreli received forfeiture money as a result of the sale, according to the DOJ.
Following a 2017 conviction for securities fraud, the 38-year-old Shkreli lost his interest in the album and was sentenced in federal court to seven years.
Shkreli was convicted and tried to sell the property. “Once Upon a Time in Shaolin”Online auction, but it failed.
Shkreli, the founder and managing member of hedge funds MSMB Capital Management LP and MSMB Healthcare Management LP, and the former Chief Executive Officer of Retrophin Inc., was convicted in August 2017 of two counts of securities fraud and one count of securities fraud conspiracy for orchestrating a series of schemes to defraud investors in the hedge funds and to manipulate the price and trading volume of Retrophin’s stock.
Turing Pharmaceuticals, his company, increased the cost of Daraprim, a drug used to treat HIV-positive patients, newborns, and malaria, by 5,000%
Fox News reported that the original price of the drug was $13.50. However, Shkreli increased the tablet’s cost to $750 per tablet. Shkreli wasn’t criminally charged with price hike.
Following the news of the pill’s price hike, many dubbed Shkreli “Pharma Bro,”Ghostface Killah, a Wu-Tang Clan member, was even able to pursue the hedge-fund chief in a 2016 video where he called him “him” “a super villain.”
“People can’t pay that much man,”Ghostface made the comments in the video. “You a real killer man, you’re a real killer. But you’re a soft killer. Youse a clown.”
Ghostface continued, “You ain’t been through nothing,” adding, “you never been in the crib with welfare cheese and fried bologna and all that stuff like that for dinner at night.”