Now might be the opportune time for Bill Murray to steal back that million-dollar Wu-Tang Clan album. That’s because the owner of Once Upon A Time In Shaolin is currently sitting in jail after being arrested by federal agents.
According to Bloomberg, Martin Shkreli was detained early Thursday on securities fraud charges. Prosecutors allege Shkreli, 32, of “taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings.” Update – Thursday, December 17th at 2:45 p.m. CT: According to Reuters, Shkreli faces up to 20 years in prison if convicted. The Wu-Tang album has not been seized (yet). Update – Thursday, December 17th at 2:45 p.m. CT: The FBI has confirmed that it has not seized the album. In other news, Shkreli has been released on $5 million bail.
The charges are unrelated to his price-gouging of Daraprim, a drug used by AIDS and cancer patients, whose price he raised from $13.50 to $750 (an increase of 5,000%) earlier this year.
If found guilty and forced to pay a significant fine, Shkreli could have his assets seized by the government, and that includes his one-of-a-kind copy of Once Upon A Time In Shaolin, which he purchased earlier this month at the price of $2 million. Under that scenario, the album could again go to auction. You really can’t make this story up, even if you tried!
Bloomberg has many more details on the charges Shkreli’s facing; read the full article here.