Wu-Tang Clan swarm the L.A. forum - photos by Maxwell Benson
Photo Credit: Maxwell Benson for Okayplayer
Recently, Martin Shkreli was forced to forfeit about $7.36 million to the federal government after he was found guilty of fraud. A part of that $7.36 million was forfeiting his one-of-one $2 million Wu-Tang Clan album, Once Upon a Time in Shaolin.
READ: Pharma Bro Martin Shkreli Sentenced To Seven Years In Prison For Fraud
Now, the album's fate may possibly be decided by Jeff Sessions, Attorney General of the United States.
In a report from Forbes, the Department of Justice filed a document recently declaring that Shkreli had to give up the album along with a number of other assets following his fraud conviction. Although the document doesn't detail Sessions' role in the fate of the items, it does 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 notes 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."
Scoolidge also said that he's unsure if the album has physically been seized yet or not.
Source: Forbes
