Martin Shkreli, infamously known as “Pharma Bro,” has been ordered by a federal judge to surrender all copies of the ultra-rare, unreleased 2015 Wu-Tang Clan album Once Upon a Time in Shaolin. He is also prohibited from streaming any further content from the album.
The Wu-Tang Clan spent six years crafting Once Upon a Time in Shaolin and auctioned off a single copy of the 31-track double album in 2015, stipulating that it would not be released publicly. The group, which has achieved multi-platinum success, wanted the album to be viewed as a piece of contemporary art.
Shkreli, a former pharmaceutical executive notorious for dramatically increasing the price of a life-saving drug, purchased the album for $2 million in 2015. However, he was forced to forfeit it after his 2021 conviction for securities fraud, which involved deceiving investors and defrauding them of millions. The album was subsequently purchased by PleasrDAO, a cryptocurrency collective, for $4.75 million.
In June, PleasrDAO filed a lawsuit against Shkreli, accusing him of retaining and sharing digital copies of the album in violation of their agreement.
Judge Pamela K Chen in Brooklyn ordered Shkreli to hand over all copies of the album, sometimes called the world’s rarest, and to disclose the names of anyone he shared the music with by September 30, along with any income he received from it.
Steven Cooper, an attorney for PleasrDAO, hailed the ruling as “an important victory” and expressed satisfaction that the judge acknowledged the need for immediate action to prevent Shkreli’s continued misconduct.
Edward Paltzik, Shkreli’s lawyer, stated in an email that the judge’s order simply maintained the “perceived status quo” of the case’s progression and did not affect the final outcome. He also pointed out that the judge did not conclude that PleasrDAO was likely to win the case or that its allegations were accurate.
After being released from a seven-year prison sentence for fraud in 2022, Shkreli publicly bragged online that he still had a copy of the album, even streaming parts of it for some of his social media followers, according to the complaint against him. This was not the first instance of such behavior.
There is also online footage showing Shkreli playing the album to celebrate Donald Trump’s victory in the 2016 presidential election.
The judge’s order bars Shkreli from “possessing, using, disseminating, or selling any interests in the Album, including its data and files.” He must also provide a detailed account of the album’s location, who has access to it, and any revenue generated from it.
