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A judge has ordered Martin Shkreli to testify about the Wu-Tang Clan album he purchased for $2 million.
The album, "Once Upon a Time in Shaolin", is a highly unusual and exclusive release that features only one copy.
Shkreli, a pharmaceutical entrepreneur, is being sued by a group of investors who claim they were misled about the financial health of his company, Retrophin.
He has been ordered to appear in court and explain his role in the purchase of the album, which is now at the center of the lawsuit.
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Martin Shkreli to Testify
Martin Shkreli must testify in court under oath about the Wu-Tang Clan's rare album Once Upon a Time in Shaolin.
A judge, Pamela K. Chen, scheduled a hearing for next month to resolve the issue of what exactly Shkreli did with the album.
Shkreli will be called upon to testify under oath regarding the copying and distribution of the album's tracks.
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Both parties will be permitted to question Shkreli on these issues.
Shkreli previously told the judge he had searched his devices and electronic accounts but couldn't recall who he had shared the album with.
He swore under penalty of perjury that he had handed over any copies he owned, but his disclosure "fell short" of the judge's requirements.
Shkreli's attorneys did not immediately return a request for comment on Monday (Oct. 14).
Frequently Asked Questions
How much did Martin Shkreli pay for the Wu-Tang album?
Martin Shkreli paid $2 million for the Wu-Tang album in 2015. He forfeited the album as part of his 2021 securities fraud conviction.
What happened to the guy who bought the Wu-Tang album?
The "pharma bro" Martin Shkreli was sentenced to 7 years in prison for securities fraud after his reputation was tarnished by price gouging scandals. He previously purchased the Wu-Tang album for $2 million in 2015.
Does Martin Shkreli still own Wu-Tang?
No, Martin Shkreli does not own the Wu-Tang album, as he was ordered to forfeit it and it was sold to PleasrDAO in 2021. The album's sale price was $4.75 million.
Sources
- https://www.billboard.com/pro/wu-tang-clan-album-martin-shkreli-testify-copying/
- https://www.law.com/legaltechnews/2024/09/04/court-orders-martin-shrekli-to-hand-over-wu-tang-album-in-misappropriation-case/
- https://nydailyrecord.com/2024/08/27/judge-orders-martin-shkreli-to-turn-over-all-copies-of-unreleased-wu-tang-clan-album/
- https://www.techdirt.com/tag/martin-shkreli/
- https://www.rollingstone.com/tv-movies/tv-movie-recaps/martin-shkreli-5-wtf-moments-from-pharma-bro-trial-196159/
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