Martin Shkreli, infamous “Pharma Bro,” must surrender his one-of-a-kind Wu-Tang Clan album
As a seasoned observer of the peculiar intersections between art, technology, and capitalism, I find myself both amused and somewhat dismayed by the ongoing saga of Martin Shkreli and his infamous Wu-Tang Clan album. The audacity of this man, who has demonstrated little regard for ethical business practices or human suffering in the past, to now hoard a unique piece of art meant to be a one-of-a-kind experience, is truly mind-boggling.
As a follower, I learned that the notorious “Pharma Bro” Martin Shkreli was mandated on Monday to part with the exclusive Wu-Tang Clan album he acquired. He’s now prohibited from reproducing or profiting off this unique piece.
In New York City, Judge Pamela K. Chen issued an order preventing Martin Shkreli from owning, utilizing, sharing, or profiting from the Wu-Tang Clan album “Once Upon a Time in Shaolin”. This includes any related songs, digital files, and artwork associated with the album.
The newest development is that the ownership of the album has taken another turn in its prolonged dispute, which is currently being contested in court by Shkreli and PleasrDAO, a community of NFT art enthusiasts who acquired control of the album between 2021 and 2024.
According to the lawsuit, the collective claims that Shkreli duplicated the unique album, meant to provide an exclusive listening opportunity for its proprietor, and plans to distribute these copies to the general public.
In simpler terms, attorney Edward Paltzik stated for the media that this order issued by the court is just a temporary step taken to preserve the current situation prior to any evidence-gathering process. This order does not affect the ultimate decision or outcome of the case in any way.
Shkreli gained worldwide infamy for his role as CEO at Turing Pharmaceuticals, where he significantly increased the cost of the medication Daraprim (a drug utilized by AIDS sufferers) from just $13.50 per tablet to an astounding $750 per pill.
In 2015, Martin Shkreli spent $2 million to acquire “Once Upon a Time in Shaolin,” an exclusive album from the renowned New York hip-hop duo that was produced as a one-of-a-kind, two CD set enclosed in a custom nickel box and leather-bound booklets. It was the only copy ever made, with no other public streaming or physical sales available.
Martin Shkreli was found guilty of securities fraud and collusion in his role as CEO at biotech firm Retrophin, receiving a seven-year prison sentence in 2018. Proceeds from the sale of “Once Upon a Time in Shaolin” were earmarked to cover a $750,000 fine and a $7.4 million seizure as part of his sentencing.
Nevertheless, Shkreli boasted about having digital versions of the music – “HAHA, I’ve got the mp3s, fool,” he once posted on X.
According to the directive, Shkreli is required to hand over any versions of the album to his legal team by Friday. He also needs to reveal any replicas, share details about whom he passed them on to, and disclose whether he made profits from their sale.
In a statement to the media, Steven Cooper, representing PleasrDAO, expressed satisfaction that Judge Chen understood the urgency to stop the repeated harmful actions by Mr. Shrkeli, immediately.
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2024-08-27 23:31