The Department Of Justice Doesn't Have Wu-Tang Clan's $2 Million Album After All
After it seemed as if United States’ Attorney General Jeff Sessions had become the holder of Martin Shkreli‘s $2 million Wu-Tang Clan album, it turns out that it’s still in the possession of the pharma bro.
Speaking with VICE News, a senior Justice Department official revealed that the album is not in their possession.
“Forfeiture has been stayed in the Shkreli case pending his appeal of the conviction. And we may never seize the album if, after he loses his appeal, he writes a check to cover his forfeiture obligation,” the official said.
Shkreli is currently serving seven years in prison but if he wins his appeal he won’t need to hand over the album. Even if he loses he won’t need to give it up. But that’s only if he has the money to pay off his dues.
Previously, the Department of Justice filed a document declaring that Shkreli had to give up the album along with a number of other assets following his fraud conviction. Although the document didn’t detail Sessions’ role in the fate of the items, it did provide the following statement:
“The United States hereby gives notice of its intent to dispose of the forfeited property in such manner as the United States Attorney General may direct.”
The report also noted how RZA and Cilvaringz (the producers of the Wu-Tang album) are still owners of the album, possessing 50 percent of the master recording. Even prior to Shkreli purchasing the project, the two producers stated that whoever bought the album couldn’t sell it until 88 years after the purchase, and could only use it for their personal use.
“The contract the album was sold under requires Mr. Shkreli to bind any new taker of the album to all of the same terms it was sold under,” Peter Scoolidge, Cilvaringz’s attorney said. “If and when that happens, my client could file papers in the forfeiture proceeding to enforce the restrictions on use of the album.”