US sells Wu-Tang Clan album to cover Shkreli debt; OrbiMed backs GSK vets' Chinese startup
Martin Shkreli became a top target for ridicule and anger in the mid-2010s when he and his biotech Turing Pharmaceuticals raised the price of a life-saving medicine from $13.50 to $750 per pill. But he also gained notoriety around that time for purchasing a one-of-a-kind album from rap group the Wu-Tang Clan at auction for about $2 million.
Now, the album is on the move again.
The Department of Justice announced Tuesday it has sold the album, “Once Upon a Time in Shaolin,” to an undisclosed buyer to help cover Shkreli’s $7.36 million debt when he was convicted for defrauding investors in 2017. The sale of the album accounted for the remainder of Shkreli’s balance, the department said in a news release.
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