Martin Shkreli — the pharmaceutical CEO whose resume includes copping the one-of-a-kind Wu-Tang Clan album Once Upon A Time In Shaolin and cranking up the price of a n AIDS drug from $13.50 to $750 — is under arrest but the exclusive LP is still tucked away in his Brooklyn apartment.
After the Federal Bureau Investigation cuffed Shkreli on securities fraud charges on Thursday morning (Dec. 17), the Feds tweeted that they did not seize the exclusive Wu-Tang LP.
#Breaking no seizure warrant at the arrest of Martin Shkreli today, which means we didn’t seize the Wu-Tang Clan album.
— FBI New York (@NewYorkFBI) December 17, 2015
The 32-year-old former hedge fund manager purchased Wu-Tang’s Once Upon A Time In Shaolin for $2 million via online auction house Paddle8. He also said in a recent interview that he had big plans to bail out Brooklyn rapper Bobby Shmurda, who has been in custody for a year over various conspiracy, drug and weapons charges.
According to the U.S. Securities and Exchange Commission’s complaint against Shkreli, the self-proclaimed hip-hop fan was accused of “misappropriating” more than $1 million relating to the hedge fund MSMB Capital Management and his former company, biopharmaceutical company Retrophin Inc.
Shkreli was released on $5 million bail from a federal court in Brooklyn and could face up to 20 years in prison with corporate lawyer, Evan Greenbel, if convicted.