Martin Shkreli Secures Bail With $45 Million E*Trade Account, Demands Respect From Wu-Tang Clan

Tyler Durden's picture




 

“I bought the most expensive album in the history of mankind and fucking RZA is talking shit behind my back and online in plain sight. If I hand you $2 million, fucking show me some respect.”

That’s a quote from the incomparable Martin Shkreli who is upset with the Wu-Tang Clan from whom he purchased a one-of-a-kind double disc for $2 million last year.

RZA, the group’s frontman if not its most famous member, found himself in a bit of an awkward scenario when news of the sale hit the wires.

When the deal was done, Shkreli had not yet become a household name. In other words, it wasn’t apparent to RZA that the soon-to-be proud owner of the one and only copy of “Once Upon A Time In Shaolin” would soon become public enemy number one in America on the way to being arrested for fraud.

"I met him, we had a brief lunch, and he did mention his love of hip-hop,” RZA said in the interview with Bloomberg. “I didn’t get a chance to read him."

In the wake of the Daraprim fiasco which saw Shkreli raise the price of a drug he acquired from $13.50 to $750 a pill, Wu-Tang decided to donate "a significant portion" of the proceeds to charity. 

Even as RZA isn't particularly enamored with Shkreli's drug pricing practices, the producer says he doesn't regret doing the deal. "He bought it, he can do what he wants," RZA told Bloomberg TV’s John Heilemann."The beautiful thing about art, from my standpoint, is that it has no discrimination. What we’ve done is historical, and you can’t remove that.”

No, you can't, and neither can you "remove" the bad taste Shkreli's Daraprim price hike left in America's mouth which is why when it came time to set bail, no one was in a forgiving mood. The price of (temporary) freedom for America's "most hated man": $5 million.

Unfortunately, the bail bondsman didn't accept Wu-Tang albums as collateral and so, Shkreli put up his E*Trade account instead. The account's value is said to be $45 million. 

"Martin Shkreli put up his $45 million E*Trade account to secure $5 million bail after federal authorities arrested him on fraud charges last month," Bloomberg reports. "Shkreli was ordered to disclose how that bond is secured and prosecutors filed papers Thursday stating Shkreli has a brokerage account worth eight figures," NY Daily News adds. "E*Trade has been ordered to notify prosecutors if the balance of the brokerage account dips below $5 million — which would jeopardize the bail bond and Shkreli’s freedom."

We wonder if Martin, like the E*Trade-ing Joe Campbell whose short position in KBIO blew up when Shkreli acquired more than half of the float back in November, will start a GoFundMe page in the event his collapsing holdings leave him a few million short on the bail bond.

*  *  *

RZA talks Shkreli and Trump with Bloomberg Business

3.666665
Your rating: None Average: 3.7 (6 votes)
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 01/07/2016 - 22:07 | 7015137 Bam_Man
Bam_Man's picture

Vermin.

Thu, 01/07/2016 - 22:07 | 7015141 HedgeAccordingly
HedgeAccordingly's picture

LMAO

Thu, 01/07/2016 - 22:11 | 7015154 Bam_Man
Bam_Man's picture

Upon second thought, referring to Shrkeli as "vermin" is an insult to rats and lice.

Thu, 01/07/2016 - 22:22 | 7015200 Realname
Realname's picture

Who can respect a piece of shit?

Thu, 01/07/2016 - 22:26 | 7015221 tmosley
tmosley's picture

"Martin" needs to sacrifice some more goy blood to his evil God. He is losing influence, as are all of his peers.

The internet is a powerful thing. It allows even us plebeians to find facts that they want hidden more than anything. The Streisand Effect now extends from idiots celebrities to international conspiracies that have existed for millennia. Anyone can learn about what they have done. No-other peoples have been kicked out of so many countries.

Thu, 01/07/2016 - 22:46 | 7015294 WTFRLY
WTFRLY's picture

This entire story defines 2016 America.

Thu, 01/07/2016 - 22:52 | 7015322 NotApplicable
Fri, 01/08/2016 - 05:41 | 7015934 jefferson32
jefferson32's picture

"Vermin"

Yes, please do hate those you are told to hate. Good boy. Hillary is proud of you.

Fri, 01/08/2016 - 08:29 | 7016266 mtl4
mtl4's picture

Martin being the son of immigrants is clearly wanting respect which hopefully by now he realizes you just can't buy.

Fri, 01/08/2016 - 09:16 | 7016486 Stainless Steel Rat
Stainless Steel Rat's picture

Martin single-handedly destroyed a company's lucrative monopoly on a life-saving drug and lowered its cost by a factor of 13... RESPECT!

Fri, 01/08/2016 - 09:28 | 7016552 jcaz
jcaz's picture

He handed $45M to ETrade?  Evidence of pure douchery.....

Thu, 01/07/2016 - 22:54 | 7015327 NoDebt
NoDebt's picture

This is so much fun watching this guy go down.  The best part is he has NO IDEA he's going down.  In his twisted mind this is all more of the same- temporary setback that he'll quickly overcome like he always had in the past.

 

 

Fri, 01/08/2016 - 01:07 | 7015696 highly debtful
highly debtful's picture

Agreed. Schadenfreude can actually be fun with the right target in your visor. The guy doesn't even realise how twisted he sounds. "2 million dollars equals some fucking respect, bro!"

Well, not in my book, pal. 

Did I just do that right with the slang? Difficult language, American.

 

Fri, 01/08/2016 - 01:44 | 7015750 myne
myne's picture

Respect can only ever be earned, never bought. 

That's why it has value. 

Fri, 01/08/2016 - 04:41 | 7015870 PrezTrump
PrezTrump's picture

"The guy doesn't even realise how twisted he sounds."

If its due to youth, in a few years reading it all back, he'll blush.

But he isn't that young, nor should he be so dumb.  

So its not because he is young.  Its because he is a sociopath.  

And all sociopaths twist everything to benifit themselves.  


Fri, 01/08/2016 - 04:50 | 7015874 PrezTrump
PrezTrump's picture

Then again maybe he IS that dumb.

He has got a platform to speak about what is truly wrong in the country with pharma.

He should defend his price hike, claiming its legal, which it is, and then tear apart congress for allowing an act illegal in any other industry, to be allowed in pharma.

He could easily explain that the reason he was able to hike, is not bc it isnt produced anywhere else, but bc if it were produced in another country, even though it cost 1/100th of the price here, you can't import it thanks to CONgress.

He could easily explain that he is making a buck the legal way (just dont look behind the curtain) and all he took was an oppurtunity, an opportunity that should never have existed.

This would be my 101 damage control.

Then again maybe he IS that dumb.

Fri, 01/08/2016 - 08:23 | 7016244 hxc
hxc's picture

Now THAT was a good comment.

Fri, 01/08/2016 - 08:22 | 7016241 hxc
hxc's picture

The whole "all sociopaths x, y, and z" thing is complete horseshit.

 

Anyone that's studied a modicum of psychology knows that a "sociopath" is not an actual thing, much less a super exact set of behaviors that match every "sociopath" down to a T. Substitute "sociopath" for "misanthropist" and you'll see what I mean.Mi

 

ght as well say "all psychopaths play with dolls as children" because that's just as fuckin retarded.

 

Fri, 01/08/2016 - 07:17 | 7016050 stocker84
stocker84's picture

"This entire story defines 2016 America."

 

This is a story?

Fri, 01/08/2016 - 08:25 | 7016250 HowdyDoody
HowdyDoody's picture

This is America?

Thu, 01/07/2016 - 22:55 | 7015338 Realname
Realname's picture

The net does allow we 'little people' access to information that would be more difficult to access, otherwise. Getting the 'general public' to accept the hidden truths of history is another thing. Learning these truths, unfortunately, is limited to the people who have a genuine interest in...learning. Knowledge, in the hands of those who wish to utilize it properly, is an awesome thing. Unfortunately, most have no interest in 'truth'.

Fri, 01/08/2016 - 03:26 | 7015819 zhandax
zhandax's picture

"The truth is like poetry.  And almost everyone fucking hates poetry."

Thu, 01/07/2016 - 22:30 | 7015238 kerfuffled
kerfuffled's picture

Behind every dindu "musician" theres a handrubbing merchant.

Fri, 01/08/2016 - 00:08 | 7015548 Miles Ahead
Miles Ahead's picture

Jealous much?

Break times over.  Goggles back on. Gloves, boots...  OK hit it.

See ya back here at noon tomorrow.

Fri, 01/08/2016 - 01:09 | 7015697 Dolar in a vortex
Dolar in a vortex's picture

Well, Hill seems to respect Bill and vice versa.

Fri, 01/08/2016 - 04:37 | 7015868 fajensen
fajensen's picture

Shit is useful, tomatoes can grow from it. Martin Shkreli could be rendered down to biofuel, then he would be useful too.   

Thu, 01/07/2016 - 22:22 | 7015202 Squid-puppets a...
Squid-puppets a-go-go's picture

no amount of his money is worthy of respect. Respect comes in the manner in which you earn it.

Thu, 01/07/2016 - 22:26 | 7015207 SumTing Wong
SumTing Wong's picture

"Wu-Tang Clan ain't nuthing ta fuck wit."

Thu, 01/07/2016 - 22:39 | 7015271 schoolsout
schoolsout's picture

C.R.E.A.M.

 

My entire high school career revolved around the Wu...Awesome music.  Hell, GZA is giving speeches at Harvard these days...lol.

 

RIP ODB

Fri, 01/08/2016 - 00:34 | 7015620 EmmittFitzhume
EmmittFitzhume's picture

It's Wu-Tang nigga, ain't nothin' changed nigga! Still shame on a nigga who try to run game.  

Fri, 01/08/2016 - 01:14 | 7015709 Bolweevil
Bolweevil's picture

word.

Fri, 01/08/2016 - 01:58 | 7015764 Ward no. 6
Ward no. 6's picture

i personally don't care for them other then that they like old style kung fu

not into their music

Thu, 01/07/2016 - 22:25 | 7015219 FireBrander
FireBrander's picture

Shrkeli- little wimpy piss ass fucken white jackass that thinks, or REALLY WISHES, he is/was black...

Let's test the theory that guns kill people; give Shrkeli one and put him in solitary for a month.

Thu, 01/07/2016 - 22:22 | 7015201 Delphi_Addiction
Delphi_Addiction's picture

This guy is like the gift that keeps on giving.

Fri, 01/08/2016 - 06:27 | 7015977 Croesus
Croesus's picture

@ Delphi_Addiction: 

"the gift that keeps on giving"....can also be used to describe a really bad case of diarrhea.

Thu, 01/07/2016 - 22:35 | 7015260 Wulfkind
Wulfkind's picture

LOL !

When does a Pimp give respect to a Ho ?

Thu, 01/07/2016 - 22:45 | 7015291 Wulfkind
Wulfkind's picture

Reminds me of the scene in the third Batman when John Daggett, before he is killed by Bane says....."I paid you a lot of money !"  And Bane says. "And this gives you power over me?"

 

Fri, 01/08/2016 - 00:30 | 7015605 robertocarlos
robertocarlos's picture

I haven't seen the movie yet! Way to spoil it.

Fri, 01/08/2016 - 07:56 | 7016148 Wulfkind
Wulfkind's picture

Well....while I'm at it......

Batman retires after saving Gotham.

The Wizard of Oz is NOT a wizard, but an old man behind a curtain pulling levers on a machine that projects his image.  And Dorothy hallucinated her whole trip to Oz after being hit in the head by debris in a tornado.

Astronaut Bowman becomes the Star Child at the end of "2001: A Space Odessey"

Kevin Spacey WAS the bad guy at the end of "The Usual Suspects"

Bruce Willis was actually a ghost in "The Sixth Sense"

And.....it doesn't matter who you vote for......since both political parties are owned by The Banksters.

 

Oh yeah....almost forgot.   Darth Vader is Luke Skywalker's father.

Fri, 01/08/2016 - 08:26 | 7016253 RaceToTheBottom
RaceToTheBottom's picture

This is, afterall, fightclub.

Well done.

Fri, 01/08/2016 - 06:41 | 7015991 Dugald
Dugald's picture

 

Respect is earned not bought......

Fri, 01/08/2016 - 10:55 | 7017123 Panafrican Funk...
Panafrican Funktron Robot's picture

Mind boggled that a person who managed to acquire that much money, has a fucking E*trade account.  

Thu, 01/07/2016 - 22:07 | 7015138 Sanity Bear
Sanity Bear's picture

I guess if you get paid enough it's easy to ignore that it's stolen blood money.

Thu, 01/07/2016 - 22:08 | 7015148 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

How about this - Fuck the Wu-Tag and this guy. Boom. I just said it, now give me some respect.

Fri, 01/08/2016 - 06:52 | 7016004 Doug
Doug's picture

Wu-Tang should get on the ball.  Offer to buy it back for $2M, then re-sell it for $4M.  

Thu, 01/07/2016 - 22:07 | 7015140 TeamDepends
TeamDepends's picture

We don't understand a word of this and demand you play something from that delightful Billy Chrystal.

Thu, 01/07/2016 - 22:07 | 7015142 Bananamerican
Bananamerican's picture

"this video is private"

Thu, 01/07/2016 - 22:08 | 7015144 yellensNIRPles
yellensNIRPles's picture

You can't even make shit that's this weird up.

Thu, 01/07/2016 - 22:08 | 7015145 LoneStarHog
LoneStarHog's picture

Respect is not PURCHASED, Asshole, it is EARNED!

Thu, 01/07/2016 - 22:15 | 7015170 ThroxxOfVron
ThroxxOfVron's picture

Money buys respect.

From tipping to bribery: money gets shit done the way money sez it is gonna get done.

Everybody has their price.

Wu Tang sold because they respected the money.

Do NOT follow this link or you will be banned from the site!