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And Finally Artist News Legal
US court moves to seize Martin Shkreli’s Wu-Tang album
By Andy Malt | Published on Monday 26 March 2018
The US Department Of Justice has moved to seize cash and assets owned by Martin Shkreli, including his copies of Lil Wayne’s unreleased ‘Tha Carter V’ album and Wu-Tang Clan’s single copy album, ‘Once Upon A Time In Shaolin’.
New York’s Eastern District Court last week filed papers listing items is intends to seize in order to recover the $7,360,450 that Shkreli was ordered to pay after being found guilty of fraud. He has also been sentenced to seven years in prison.
The bulk of the money will come from a brokerage account, estimated to contain around $5 million. But making up the shortfall are the Lil Wayne and Wu-Tang albums, plus a painting by Picasso.
In its filing, the court states “its intent to dispose of the forfeited property in such manner as the United States Attorney General may direct”. Which does sound a bit like they might just chuck it all in the bin. Clearly that’s not the plan. But it would be the funniest thing to do, and would probably help in Shkreli’s apparent bid to turn himself into a comic book villain.
Anyone who believes that they also have an interest in any of the forfeited property has 60 days to come forward before the disposal begins. Therefore this would be a fun, if more risky, time for the Wu-Tang Clan and/or Bill Murray to take ‘Once Upon A Time In Shaolin’ back via a “heist or caper”, as it was agreed they could in the contract signed with Shkreli when he bought the single copy album.
