There’s a member of the R & B group Pretty Ricky that’s in some pretty hot water.
Group member Diamond Blue Smith is being accused of pocketing COVID relief money to buy himself a Ferrari.
Blue has been charged with wire fraud, bank fraud, and conspiracy to commit bank and wire fraud.
According to documents Blue allegedly falsified papers to secure an over $426,000 loan under the Paycheck Protection Program for his company Throwbackjersey.com LLC. As you may or may not know, the program is part of the CARES Act to help those suffering from the economic impact of COVID-19.
To make matters worse, he’s also being accused of trying to get another loan for over $700,000 through his Blue Star Records company too! Needless to say, the Ferrari he bought and the kickbacks he received have all been seize