Pretty Ricky’s Baby Blue Accused of Using Coronavirus Relief Loan to Buy Ferrari

Written by on October 7, 2020

A member of Fairly Ricky is dealing with federal expenses for his alleged involvement in a $24 million coronavirus aid fraud scheme.

Diamond “Blue Blue” Smith was arrested and charged with wire fraud, financial institution fraud, and conspiracy to commit wire fraud and financial institution fraud, in accordance with the New York Each day Information. He appeared Monday earlier than a U.S. Justice of the Peace Decide in Georgia.

The “Love & Hip Hop: Miami” star allegedly used falsified paperwork to acquire a $426,717 mortgage underneath the Paycheck Safety Program (PPP) for his firm, LLC. Smith can be accused of looking for one other mortgage of $708,065 for his different firm, Blue Star Information LLC, once more utilizing falsified paperwork.

Smith, 36, allegedly used the PPP funds to purchase luxurious items and a $96,000 Ferrari, which was seized by authorities on the time of his arrest. He’s additionally alleged to have withdrawn $271,805 in mortgage proceeds.

The “Grind With Me” hitmaker is amongst at the very least 11 different defendants who allegedly participated within the COVID-relief fraud scheme to file fraudulent mortgage functions looking for greater than $24 million in forgivable PPP loans. Authorities say he additionally sought PPP loans on behalf of others with the intention to obtain kickbacks.

The Paycheck Safety Program is a part of the Small Enterprise Administration’s Coronavirus Help, Reduction, and Financial Safety (CARES) Act, which offers emergency monetary assist for these affected by the financial results of the coronavirus pandemic.

In August, a lady who was reportedly pregnant with Smith’s little one accused the singer of bodily assault, alleging that he punched her within the abdomen whereas pregnant.

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