Filed under News

Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story






The villain of pharmacies nationwide, Martin Shkreli, has been ordered by the federal government to cough up $7 million, a Picasso painting, and two lost hip hop albums. While the hip-hop community rejoiced to the news, many were left puzzled as to who Shkreli is and why he would have any association with the genre’s most anticipated work. Shkreli, through a series of prices gouged and fraud committed managed to become the latest Batman villain.

The story of the so-called “Pharma Bro” and his forfeitures dates back long before 2018. Before the publicity, Shkreli dropped out of high school to appear on CNBC’s popular finance show, Mad Money. After his fifteen minutes of fame, Shkreli stuck with finance and started two hedge funds, Elea Capital and MSMB Capital. He did not earn much from these companies, but it was enough to propel him into his future target area of wealth: prescription drugs.

Drew Angerer—Getty Images
Former pharmaceutical executive Martin Shkreli departs the U.S. District Court for the Eastern District of New York, August 3, 2017 in the Brooklyn borough of New York City.

Shkreli jump-started a pharmaceutical company called Retrophin. Retrophin was used to purchase old, rare prescription drugs and gouge the price before being released again to the public. After raising the prices, Retrophin would sell the drugs directly to gain profits, since they were the only suppliers to a large demand. For example, Retrophin purchased a kidney stone reliever for $1.50 per supplement, followed by raising the price to $30 and made hand over foot on this. Ousted and sued by Retrophin for allegations of fraud in 2014, the evil entrepreneur still did not stop.

Following his successful episode with Retrophin, Shkreli continued his direct-sale of prescription drugs with launching Turing Pharmaceuticals, a company similar to Retrophin. As the CEO of Turing, Shkreli gained national notoriety. In fall of 2014, Shkreli gouged the price of a HIV drug known as Daraprim. The original price of Daraprim was $13.50, before Shkreli skyrocketed it to a whopping $750 per supplement.

Former Secretary of State and Presidential candidate Hillary Clinton ordered him to lower the price. Shkreli replied with “lol.”

After all his diabolical schemes, Shkreli decided to go public with his money. Shkreli was known to be a huge Hip/Hop fan before the corrupt success. In an auction, the businessman purchased the last album of the legendary Wu-Tang Clan, “Once Upon A Night in Shaolin,” for $2 million.

It is the only copy of the lost album, and was sold as a Vinyl LP. As if he was not already the luckiest man ever, Shkreli discovered a disc copy of “Tha Carter V” by Lil Wayne in 2016 after purchasing a Bugatti with the disc in the CD player. The Bugatti was allegedly owned by Wayne himself before he sold it to a dealer. The legendary album, however, was forgotten in the Bugatti before it ultimately ended up in the wrong hands.

Shkreli’s involvement with Hip/Hop continued even further. In 2015, New York rapper Bobby Shmurda broke out with his hit single “Hot Boy.”

Unfortunately for Shmurda, he ended up in prison after numerous counts of conspiracy found the rapper guilty of being the head of the GS-19 gang. Shkreli decided to jump in on the scene by offering to bail Shmurda out. However, Shkreli noted how Shmurda would be “in his debt” for the potential bail. Shmurda was never bailed out by Shkreli.

Finally, Shkreli met his maker in 2015 when he was arrested for security fraud. Allegedly, Shkreli misused nearly $1 million from investors of his early hedge funds. As the case continued to 2018, Shkreli has recently been ordered by a federal judge to give both albums, $7.36 million and a Picasso painting to the state.  

Shkreli thought he was invincible through the price gouging and fraud, but his power in the medical industry and Hip/Hop community was not enough to protect him from the law.

The downfall of the “Pharma Bro” is yet another example of American greed.  Fortunately, this also serves as a prime example of justice being served.

Leave a Comment

If you want a picture to show with your comment, go get a gravatar.




Navigate Right
Navigate Left
  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Man Kicked out of Bar for Wearing ‘Make America Great Again’ Hat

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Cuba Looks to the Future With New President

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Four Shot, One Dead in a “Gathering of Souls”

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Accused Parkland Shooter to Donate Inheritance to Victims

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Blackout Hits Puerto Rico

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Good News for Coffee Drinkers

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    7 Inmates Killed, 17 Others Injured in South Carolina Prison Riot

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Mark Zuckerburg Testifies on Capitol Hill

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Paul Ryan Announces He Will Not Run for Re-election

  • Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums

    News

    Canadian Junior Hockey Team Loses 15 Players in Tragic Bus Crash

Prescription Boogeyman Martin Shkreli Ordered to Forfeit Two Rap Albums