Former pharmaceutical executive and convicted securities fraudster Martin Shkreli has been ordered by a federal judge to surrender all copies of the ultra-rare unreleased Wu-Tang Clan album “Once Upon a Time in Shaolin” and is prohibited from streaming any additional content from the record. The album, created over six years by the iconic hip-hop group, was sold to Shkreli for $2 million in 2015, but was forfeited following his 2021 conviction. It was later purchased for $4.75 million by cryptocurrency collective PleasrDAO, who accused Shkreli of retaining and disseminating digital copies in violation of their agreement.
Judge Pamela K Chen has ruled that Shkreli must produce all copies of the album and disclose any recipients and revenues by 30 September. PleasrDAO’s attorney Steven Cooper hailed the decision as an important victory to stop Shkreli’s alleged bad acts. Shkreli’s lawyer Edward Paltzik, however, indicated that the ruling doesn’t determine the final outcome of the case.
In addition to the Wu-Tang Clan album, Shkreli is also barred from possessing, using, or selling any interests in the record, as well as providing detailed information about its copies and revenue. Shkreli had previously streamed parts of the album online after his release from prison in 2022, violating the terms of the agreement. Despite his past actions, the judge’s order aims to prevent Shkreli from further exploiting the rare and valuable musical piece.
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