Martin Shkreli Wu-Tang Clan city Brooklyn city Hobart lawsuits 6/11/24 Martin Shkreli Wu-Tang Clan city Brooklyn city Hobart

‘Pharma Bro’ Martin Shkreli allegedly copied one-of-a-kind Wu-Tang Clan album that sold for $4.75M

Reading now: 463

$4.75 million for a one-of-a-kind album by the hip-hop group Wu-Tang Clan, only to learn that the convicted pharmaceutical executive made copies and is releasing the music to the public.Shkreli paid $2 million in 2015 for “Once Upon a Time in Shaolin,” and gave it up to partially satisfy a $7.4 million forfeiture order after his 2017 conviction for defrauding hedge fund investors and scheming to defraud investors in a drugmaker.The plaintiff PleasrDAO said Shkreli has, since his May 2022 release from prison, told fans on live streams and social media platform X that he kept and had shared the album, once saying, “I was playing it on YouTube the other night even though somebody paid $4 million for it.”PleasrDAO also said thousands of people tuned in on Sunday to hear the album on a live stream that Shkreli called a “Wu tang official listening party.”Such activity violates the forfeiture order, amounts to misappropriation of trade secrets, and “greatly diminishes and/or destroys the album’s value,” according to the complaint filed Monday night in Brooklyn federal court.PleasrDAO wants Shkreli to destroy his copies, turn over profits from disseminating the music, and pay compensatory and punitive damages.Lawyers who have represented Shkreli in criminal and civil matters declined to comment or did not immediately respond to requests for comment.The plaintiff is displaying “Shaolin” this month at the Museum of Old and New Art in Hobart, Tasmania.Shkreli, 41, became notorious and gained the nickname “Pharma Bro” when, as chief executive of Turing Pharmaceuticals in 2015, he raised the price of the life-saving antiparasitic drug Daraprim overnight to $750 per tablet from $17.50.He was released early from his seven-year prison.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News