Martin Shkreli, a former pharmaceutical executive, is once again in the spotlight for his involvement with The Wu-Tang Clan’s Once Upon a Time in Shaolin album. This rare album, of which only one copy exists, was purchased by Shkreli in 2015 for $2 million. However, Shkreli’s ownership of the album has been marred by controversy and legal battles.
PleasrDAO, an NFT collective and current owner of Shaolin, has filed a lawsuit against Shkreli, claiming that he “improperly retained copies of data and files” from the album and intends to release them. The group alleges that Shkreli violated a court order to forfeit the album to the US government, leading to the issuance of a preliminary injunction by federal Judge Pamela Chen.
In response to the lawsuit, Judge Chen issued a preliminary injunction against Shkreli, enjoining him from possessing, using, disseminating, or selling any interests in the album. Shkreli was also ordered to provide an inventory and accounting of the copies of the album that he has retained and to turn over all recordings of the album’s contents that he possesses or controls. Deadlines were set for Shkreli to comply with these orders, with consequences for failing to meet them.
This is not the first time that Shkreli has faced legal action regarding the Shaolin album. Judge Chen had previously issued a restraining order against him in June, requiring him to stop distributing the album and to appear in court to explain why he should not be forced to give up all of his copies. Shkreli’s repeated defiance of court orders has only escalated the legal battle surrounding the album.
The case of Martin Shkreli and The Wu-Tang Clan’s Once Upon a Time in Shaolin album is a prime example of the complexities and controversies that can arise in the world of rare and valuable collectibles. Shkreli’s actions have not only put him in legal jeopardy but have also brought unwanted attention to the album and its ownership. As the legal battle continues to unfold, it remains to be seen what the ultimate fate of the album will be and what consequences Shkreli will face for his actions.