The fate of Martin Shkreli’s exclusive copy of Wu-Tang Clan’s “Once Upon a Time in Shaolin” album is uncertain.
Last week it was revealed that Shkreli purchased the only copy of the hip-hop group’s latest album for $2 million.
On Thursday, Shkreli was arrested by the FBI on charges of securities fraud.
Toward the end of its complaint the US government notes it may “seek forfeiture” of “any property, real or personal, which constitutes or is derived from proceeds traceable to any such offenses.”
This language quickly led to speculation on social media that Shkreli’s latest purchase could be at risk of being seized by the US government. During a press conference on Thursday, a US attorney declined to comment on the fate of the album.
Shkreli, who is 32 and currently serves as the CEO of KaloBios, gained notoriety in September after it was revealed that as CEO of another company, Turing Pharmaceuticals, he had raised the price of a drug used to treat parasitic infections from $13.50 to $750 per pill. Shkreli is a hip hop aficionado and recently referenced rapper Eminem’s lyrics after facing backlash on social media for this decision.
KaloBios shares were halted for trade on Thursday but fell 50% before the market open following reports of Shkreli’s arrest.