Life&Culture

Feds want 'Pharma Bro' Martin Shkreli's Wu-Tang Clan album

Feds want 'Pharma Bro' Martin Shkreli's Wu-Tang Clan album

Reviled "Pharma Bro" and securities fraudster Martin Shkreli may have to part with some serious cash-or prized possessions-after U.S. Attorney Bridget M. Rhode requested the courts impose a forfeiture of more than $7.3 million on the shameful son of Sheepshead Bay. That tally was to be secured from $5 million in an E*Trade account that was used as security on Shkreli's bond, with prosecutors listing the Wu-Tang album as well as various shares in companies, "the Lil Wayne album Tha Carter V; an Enigma machine, and a Picasso painting" as possible other sources of the remaining funds. The LP has now been certified by the Guinness Book of World Records as the most expensive album in existence.

The former Biotech CEO became known in the public eye after purchasing the elusive Wu album for about $2 million, but Bloomberg News is reporting someone may have sold the project on eBay while Shkreli was locked up for $1 million, even though the buyer is still unidentified.

The album cannot be commercially released until 2103, although it can be released for free or played during listening parties.

Martin Shkreli's legal representatives say he will "vigorously oppose" any attempts to seize his assets, saying in a statement on Friday: "Our position is clear. Accordingly, forfeiture of any assets is not an appropriate remedy".

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Remember that Wu Tang Clan album with only one copy made?

"I tried to tell Martin that would be the smartest thing to do with it", he said. "I hope that will still happen".

In September 2015, he received heavy criticism after Turing obtained the manufacturing licence for the anti-parasitic drug Daraprim, raising its price from $13.50 to $750 per pill.

He is being held in a federal lockup in Brooklyn while awaiting sentencing, which is scheduled for January.