Reports say Pretty Ricky member Baby Blue has been sentenced to 20 months in prison for PPP loan fraud. Vladtv says that Baby Blue’s 20 months sentence is on the heels of him admitting to using falsified documents to obtain a PPP loan of $426,717 for his company, Throwbackjersey.com LLC.
He then obtained a second loan using falsified documents for $708,065 for his other company, Blue Star Records. Baby Blue was ordered to fork over $1,111345.23 in restitution and $1,134,782 in forfeiture, in addition to his term of imprisonment. When asked about his sentencing, Baby Blue reportedly stated that the judge “was fair” in their ruling.
Baby Blue, while publicly addressing his loan fraud case for the first time on Friday, wrote:
“In my opinion, the best way to stay safe from everything going on surrounding these PPP Loans is just stay away from them. Don’t discuss them with anyone. Don’t give anyone your information. Don’t attempt to do it yourself. IT IS NOT WORTH IT. You can repair your credit and get a conventional loan from your local bank. Don’t get caught up in this PPP thing because it’s not worth it.”
According to the Feds, Baby Blue used the money to buy a Ferrari.
Smith, a recording artist, is alleged to have obtained a PPP loan of $426,717 for his company, Throwbackjersey.com LLC, using falsified documents. Upon completion of that loan, Smith then sought and obtained another PPP loan of $708,065 for his other company, Blue Star Records LLC, using falsified documents. Smith allegedly purchased a Ferrari for $96,000 and made other luxury purchases using PPP loan proceeds. Authorities seized the Ferrari at the time of Smith’s arrest. He is also alleged to have withdrawn $271,805 in loan proceeds. The complaint further alleges that Smith sought PPP loans on behalf of others in order to receive kickbacks for those confederates.
Flip to the next page for Baby Blue’s recent Instagram post about his sentence.
