Cyrus Langhorne
Pharmaceutical executive Martin Shkreli is reportedly close to losing his $2 million Once Upon a Time in Shaolin album following a publicized FBI arrest last week.
According to reports, Shkreli’s album could be seized depending on how he obtained the LP.
As we reported, Shkreli was indicted for securities fraud … $65 million worth. Federal prosecutors and law enforcement sources tell us … Shkreli’s precious Wu-Tang album could be seized. If prosecutors determine any of the $65 mil was used to purchase the album, they could immediately file a forfeiture action to seize it. (TMZ)
The FBI addressed Shkreli’s status and denied seizing his pricey Wu album last week.
1:20 PM PST – The FBI just released a statement saying they didn’t seize Shkreli’s Wu-Tang Clan album. He’s been released on a $5 million bond.
According to reports, Shkreli has a federal case against him and is accused of making secret payoffs.
Martin Shkreli, 32, ignited a firestorm over drug prices in September and became a symbol of defiant greed. The federal case against him has nothing to do with pharmaceutical costs, however. Prosecutors in Brooklyn charged him with illegally taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings. He was later ousted from the company, where he’d been chief executive officer, and sued by its board. (Bloomberg Business)
https://www.youtube.com/watch?v=ahe3uEtX1Ds
Earlier this month, Shkreli spoke out on posting the winning bid for Wu’s album.
He hasn’t listened to Once Upon a Time in Shaolin yet. He’s saving that for a time when he’s feeling low and needs something to lift his spirits. “I could be convinced to listen to it earlier if Taylor Swift wants to hear it or something like that,” Shkreli says. “But for now, I think I’m going to kind of save it for a rainy day.” (Bloomberg Business)
