Two fabled albums owned by Martin Shkreli could be sold at auction, after the shamed pharmaceuticals boss was jailed for fraud.
Shkreli, who was sentenced to seven years in prison last week, is the only owner of a Wu-Tang Clan album, and claims that he also has a Lil Wayne record in his possession.
The 34-year-old entrepreneur paid $2 million in 2015 for Once Upon a Time in Shaolin, the 31-track double album that the Wu-Tang Clan spent six years creating
But it now seems that both records could go under the hammer after it was announced that Shkreli owes crippling debts of more than $7.3 million.
Prosecutors have also issued a forfeiture order that requires Shkreli to confirm if he’s still in possession of the album.
The order states that “shall not, directly or indirectly, transfer, assign, license, waste, pledge, encumber, hypothecate, distribute, dissipate, dilute or remove” the record from the court’s jurisdiction.
Record executive Jeff Gold told the Associated Press: “Martin is not viewed by the general public in a necessarily positive way, so his association with [the albums] I don’t think is a positive.”
“These [albums] are problematic to sell”, he added.
“If there are cars or boats or brokerage accounts, all of that stuff is going to be a lot simpler to quantify. There are a lot of questions around these albums and what you can and can’t do with them.