A judge has officially ruled in the case of Pretty Ricky group member Baby Blue for his PPP Loan sins with a sentence of 20 months!
According to Baller Allert the artist also known as Diamond Smith came forward in confessing that he initially obtained a loan for $426,717 for his company ThrowbackJersey.com LLC by forwarding falsified documentation.
He then obtained another loan for a total of $708,065 for an additional company under the name of Blue Star Records LLC, using the same scheme of falsified information.
Court records obtained by the Department of Justice details that Blue used the money to assist himself in living a lavish life. It has been stated that he used a portion of the money to purchase a Ferrari and for time he spent at the Seminole Hard Rock Hotel and Casino in South Florida.
Reports read that Blue also paid over $250,000 to two men identified as James R. Stole and Phillip J.Augustin to helping him submit fraudulent loan applications. Both men also pleaded guilty to helping conduct a nationwide PPP loan fraudulent scam.
Sources confirm that Blue is ordered to pay $1,111,345.23 in restitution and $1,134,782 in forfeiture as well as his sentencing of 20 months in prison.