US sells one-time Wu-Tang Clan album to cover Martin Shkreli’s debt

New York, Jul 27 (EFE) .- The US authorities announced on Tuesday the sale of a unique album by the rap group Wu-Tang Clan -of which there is only one copy and which was owned by Martin Shkreli- with The objective of covering the debts of the controversial former pharmaceutical director after being sentenced to pay millions of dollars for fraud.

The Attorney General for the Eastern District of New York, which released the news in a statement, did not disclose the identity of the buyer or the price paid.

The Prosecutor’s Office did say that with the proceeds the debt that Shkreli still had pending is settled after he was ordered in 2018 to deliver more than 7.3 million dollars as part of his punishment.

“With the sale of this unique album today, your payment is now complete,” Acting Prosecutor Jacquelyn Kasulis noted in the note.

The album in question is “Once Upon a Time in Shaolin”, a work unveiled in 2015 by the Wu-Tang Clan and which was sold to the highest bidder, with the promise that it could not be published commercially for 88 years.

Thus, the work has always been seen more as a piece of art than as a musical album to use and it was one of the most valuable assets that Shkreli owned, which according to some media paid 2 million dollars for it.

The investor and former executive was sentenced to 7 years in prison in 2018 for having defrauded some $ 11 million from investors from his fund manager, MSMB Capital, a firm he ran before becoming involved in the pharmaceutical sector.

Shkreli became known, however, for having inflated the prices of several drugs, including one for AIDS patients that went from $ 13.5 to $ 750 when his company bought the rights to make the drug.

After his rise to fame, the young man also dedicated himself to launching harsh attacks on journalists and other critics on the internet and for his eccentric behavior, which included publicly offering $ 5,000 to whoever obtained a lock of the hair of former Secretary of State Hillary Clinton .

The son of an immigrant family in Brooklyn, Shkreli created his mutual fund in 2006 and, years later, was included in a Forbes magazine list of the most prominent investors under 30 years of age.

In 2011 he started the pharmaceutical company Retrophin, which he later left to found the company Turing Pharmaceuticals, which was with which he dedicated himself to buying drug rights and then making them more expensive.


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