After Shkreli conviction, what will happen to Wu-Tang album?

By Mesfin Fekadu, The Associated Press

NEW YORK, N.Y. – Two unreleased, collectible rap albums may go up for auction following the criminal conviction of the albums’ owner, pharmaceutical company investor Martin Shkreli.

Shkreli was sentenced to seven years in prison for securities fraud on Friday. He owns an unreleased Wu-Tang Clan album and claims to own an unreleased Lil Wayne album. Both could be auctioned by the government since Shkreli has to forfeit more than $7.3 million in a brokerage account and personal assets.

Prosecutors say the forfeiture order requires Shkreli to say if he’s still in possession of the albums — or has proceeds from their sales — by Thursday.

Jeff Gold, the owner of music collectibles store Recordmecca, says the value of the albums have decreased since being in Shkreli’s hands.

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