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Man Who Purchased Secretive Wu-Tang LP Arrested For Securities Fraud

Martin Shkreli reportedly used illegal stock tactics to pay off debt.

Adrien Vargas // REVOLT

Martin Shkreli, the man who bought the multi-million dollar one-of-one Wu-Tang album and boasted about bailing out Bobby Shmurda was arrested on securities fraud, according to Bloomberg Business.

The pharmaceuticals executive is accused of grabbing stock from a company he founded to pay off debts elsewhere. The move has been characterized as a "shell game," where Shkreli—who was ousted from his company by the board—has been trying to pay off debts from a hedge fund he founded that has lost millions.

Shkreli, a 32-year-old Brooklyn man, made headlines last week when it was revealed he secured the rights to Once Upon A Time In Shaolin, which RZA put together as a special project. Shkreli also boasted in an interview with hiphopdx.com that he would bail out Bobby Shmurda.

Last week, theverge.com suggested that RZA was looking for a way to re-obtain the album and a clause may exist where the group can legally pull one heist to secure the album, though it seemed very tongue-in-cheek, RZA seemed to confirm it with a tweet about an "urge" to do so.

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