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FBI: No, we didn't seize Shkreli's Wu Tang Clan album

Shkreli out on $5 million bail

Wu-Tang Clan fans, don't get too excited just yet, the government hasn't quite seized the only known copy of the hip hop group's album.

After the arrest of Turing Pharmaceutical CEO, Martin Shkreli, on Thursday, the New York FBI announced it didn't obtain a seizure warrant. This means the Wu-Tang album Shkreli infamously paid $2 million for, was not taken by authorities.

Shkreli, 32, previously told Businessweek he had no plans to actually listen to the album but spent the millions to "keep it from the people."

The controversial pharmaceutical executive was arraigned Thursday on securities fraud charges. The New York Eastern District U.S. Attorney, Robert Capers, said in a press conference that Shkreli "essentially ran his companies like a Ponzi scheme."

— The Associated Press contributed to this report.