Martin Shkreli has received bids in excess of $1 million for his one-of-a-kind copy of a Wu-Tang Clan album.
The disgraced former chief executive officer of Turing Pharmaceuticals, who was last month convicted of two counts of securities fraud, listed the album “Once Upon a Time in Shaolin” on eBay earlier this week.
The auction had attracted a top bid of more than $100,000 by midday on Wednesday. However, by Thursday morning an eBay user reportedly submitted an offer of $1,000,100 for the rare CD.
Shkreli was revealed as the winner of an auction for the Wu-Tang Clan album in 2015. His winning bid was $2 million.
“This is the one and only Wu-Tang clan album,” Shkreli wrote in the description.
“At any time I may cancel this sale and I may even break this album in frustration. I will donate half of the sale proceeds to medical research. I am not selling to raise cash – my companies and I have record amounts of cash on hand. I hope someone with a bigger heart for music can be found for this one-of-a-kind piece and makes it available for the world to hear,” he added.
Shkreli, 34, was convicted in Brooklyn federal court in early August for three counts of securities fraud, but was acquitted of five other criminal counts. Shkreli was accused by prosecutors of defrauding a group of hedge fund investors, and then of ripping off the drug company he founded, Retrophin, to pay back their money.
The “pharma bro”, a New York City resident, remains free on a $5 million bond pending his yet-to-be-scheduled sentencing on the charges.
— CNBC’s Dan Mangan contributed to this report.
Martin Shkreli auctions secret Wu-Tang Clan album on eBay — and receives offer in excess of million