MIAMI- Pretty Ricky member Diamond Blue Smith has been charged, after being accused of being involved in one of the country’s biggest COVID-19 relief schemes.
According to several Florida news outlets, the FEDS say that Smith was arrested this week, along with a truck operator for their role in a $24 million COVID-19 relief fraud scheme.
The FEDS say that Smith, a rapper, and a cast member on ‘Love & Hip Hop: Miami, allegedly stole more than a $1 million from a federal loan program for struggling businesses.
Smith also known as “Baby Blue”, received $427,000 in a PPP SBA loan through his company Throwbackjersey.com, by falsifying documents for the SBA loan. His loan was then approved by a bank.
The rapper allegedly received another loan of $709,000 through another company, Blue Star Records LLC.
Instead of using the money for it’s intended purposes, Smith purchased a $96,000 Ferrari.
Smith, and the truck operator he was arrested with, face federal charges of bank fraud, wire fraud and conspiracy to commit bank fraud and wire fraud.
11 other people have also been charged for their roles in the scheme.
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