Martin Shkreli has found himself embroiled in yet another legal battle. This time, the disgraced former pharmaceutical executive is being sued by PleasrDAO, a digital art collective, over the Wu-Tang Clan's unique album, Once Upon A Time In Shaolin, Pitchfork reports. Shkreli originally purchased the one-of-one album in 2015 for $2 million, only to later forfeit it as part of a criminal conviction. PleasrDAO acquired the album in 2021 for $4 million, but recent actions by Shkreli have led to new legal troubles. A lawsuit was filed on June 10 in Brooklyn federal court. PleasrDAO alleges that Shkreli made unauthorized copies of the album and played it publicly. Thus, diminishing its value and violating the terms of his forfeiture order.
Martin Shkreli: From Pharma Bro To Convicted Felon
Martin Shkreli first gained notoriety as the CEO of Turing Pharmaceuticals when he infamously raised the price of the life-saving drug Daraprim by over 5,000%. His unapologetic stance and provocative public persona earned him the moniker "Pharma Bro." However, his business practices soon caught up with him, leading to his arrest in 2015 on securities fraud charges. By 2017, Shkreli was convicted and sentenced to seven years in federal prison. As part of his sentence, he had to forfeit nearly $7.4 million in assets, including the Wu-Tang Clan album.
The Wu-Tang Clan Album: A Unique Musical Artifact
Once Upon A Time In Shaolin" is not just any album; it's a singular piece of music history. Created as a one-of-a-kind work of art, it was designed to be experienced by a select few. The contract stipulated it cannot be commercially exploited until 2109. This exclusivity was intended to make a statement about the value of music in the digital age. When Shkreli purchased the album, it was seen by many as a fitting symbol of his controversial persona. However, the story took another turn when the album was seized by the federal government as part of his asset forfeiture.
PleasrDAO's Lawsuit: Protecting The Album's Integrity
PleasrDAO, a collective known for its digital art and NFTs ventures, purchased Once Upon A Time In Shaolin for $4 million. This happened while Shkreli was serving his prison sentence. According to the lawsuit, Martin Shkreli violated the terms of his forfeiture order by copying the Wu-Tang Clan album and playing it publicly, actions he has openly admitted to on social media. PleasrDAO argues that these actions not only diminish the album's value but also harm its reputation and ability to commercially exploit the album within the constraints of the original contract.
The Legal Battle & Public Reactions
The lawsuit seeks an inventory of the files Shkreli has, the seizure of his copies, and damages for the alleged breaches. Despite the serious allegations, Shkreli has taken to social media to mock PleasrDAO and defend his actions. “these super nerds are suing me,” he wrote. “the least crypto ethos, whitest, least culturally relevant dorks[.] good luck!”
Conclusion: A Continuing Controversy
As Once Upon a Time in Shaolin prepares to be publicly played at Australia's Museum of Old and New Art (MONA), the legal and cultural saga surrounding Martin Shkreli and the Wu-Tang Clan album continues to unfold. The outcome of PleasrDAO's lawsuit could set important precedents for the handling of unique art pieces in the digital age, as well as further cement Shkreli's infamous legacy.
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