You may know Martin Shkreli as the former owner of the Wu-Tang Clan album, Once Upon a Time in Shaolin , a one-of-a-kind album that he purchased from Wu-Tang themselves for $2 million. That purchase made the album the most expensive album ever bought.
What you might not know, is that Shkreli is also the former owner of several investment companies and also owned the company that raised the price of a drug that helped treat HIV from from $13.50 a pill to $750.
In 2017, Shkreli was convicted of three felonies relating to securities fraud relating to his investment companies. The Feds filed to levy the Wu-Tang album. Around that time, Shkreli’s lawyer Benjamin Brafman said the album was now "probably worthless."
Shkreli appealed the convictions. It did not go well. This week, the three judges overseeing Shkreli’s appeal all denied the appeal. Shkreli will have to complete his seven year sentence and will have to remit $7.3 million in assets. As of now, it appears that the Wu-Tang album is still under Shkreli's ownership, but it is expected to be levied shortly. Shkreli has been running his companies from jail, however, according to Wall Street Journal. He reportedly used what would be a contraband cell phone to participate in the operations of Phoenixus AG, the drug company he helped found. He also appears to have fired one of the company's executives from jail.