Judge orders Martin Shkreli to turn over all copies of unreleased Wu-Tang Clan album
Aug. 26, 2024, 9:42 p.m.
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NEW YORK -- NEW YORK (AP) — Martin Shkreli, once dubbed “Pharma Bro” for boosting the price of a life-saving drug, was ordered by a federal judge Monday to turn 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 provide all copies of what is often called the world's rarest album and disclose the names of individuals he shared the music with by Sept. 30, along with any profits he made from it.
In June, a cryptocurrency collective called PleasrDAO filed a lawsuit against Shkreli after purchasing the only known copy of the album for $4.75 million.
The PleasrDAO, a group of cryptocurrency enthusiasts, accused Shkreli of violating their agreement by keeping digital copies of the album and sharing them widely with his social media followers.
Steven Cooper, PleasrDAO's attorney, stated in a press release that Chen's ruling was “an important victory for our client.”
He added: "We are pleased that Judge Chen recognized that prompt action was needed to prevent Mr. Shkreli's continued wrongdoings.”
Lawyers for Shkreli did not immediately comment.
The Wu-Tang Clan spent six years crafting “Once Upon a Time in Shaolin” before offering a single copy of the 31-track double album for auction in 2015 on the condition that it not be publicly released. The multiplatinum hip-hop group intended for it to be viewed as a piece of contemporary art.
Shkreli purchased the album for $2 million before being convicted of misleading investors and defrauding them out of millions of dollars in two failed hedge funds he ran.
In 2021, “Once Upon a Time is Shaolin” was sold to settle some of Shkreli’s court-ordered debts .
Shkreli was released from prison in 2022 after serving a significant portion of his seven-year sentence.