Judge Orders Martin Shkreli to Surrender All Copies of Unreleased Wu-Tang Album

NEW YORK (AP) — Martin Shkreli, once known as “Pharma Bro” for drastically raising the price of a life-saving drug, was ordered by a federal judge on Monday to hand over all copies of Wu-Tang Clan’s unreleased “Once Upon a Time in Shaolin” album to his lawyers by Friday.

Judge Pamela K. Chen in Brooklyn mandated that Shkreli must produce all copies of what is often regarded as the world’s rarest album and report the names of any individuals to whom he distributed the music by September 30, along with any revenues he earned from it.

In June, Shkreli faced a lawsuit from a cryptocurrency collective named PleasrDAO, which had purchased the only known copy of the album for $4.75 million.

PleasrDAO accused Shkreli of keeping digital copies of the album against the terms of their agreement and sharing them widely among his social media followers.

PleasrDAO’s attorney, Steven Cooper, described Judge Chen’s ruling as “an important victory for our client.”

“We are pleased that Judge Chen recognized that immediate relief was necessary to thwart the continuing bad acts of Mr. Shkreli,” added Cooper.

Representatives for Shkreli did not immediately respond to requests for comment.

The Wu-Tang Clan spent six years producing “Once Upon a Time in Shaolin” before auctioning off the single copy of the 31-track double album in 2015, with the stipulation that it should not be publicly released. The acclaimed hip-hop group intended the album to be viewed as a contemporary art piece.

Shkreli acquired the album for $2 million before he was convicted of defrauding investors and costing them millions through two failed hedge funds he managed.

In 2021, “Once Upon a Time in Shaolin” was sold to help satisfy some of Shkreli’s court-ordered debts.

Shkreli was released from prison in 2022 after completing much of a seven-year sentence.

Source: AP