Have you subscribed to theGrio’s podcast “Dear Culture”? Download our newest episodes now! TheGrio’s Stephanie Guerilus contributed to this report. The complaint further alleges that Smith sought PPP loans on behalf of others in order to receive kickbacks for those confederates.” He is also alleged to have withdrawn $271,805 in loan proceeds. Authorities seized the Ferrari at the time of Smith’s arrest. Smith allegedly purchased a Ferrari for $96,000 and made other luxury purchases using PPP loan proceeds. 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. The release continued with: “Smith, a recording artist, is alleged to have obtained a PPP loan of $426,717 for his company, LLC, using falsified documents. He was charged with “wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud,” per a press release by the Department of Justice. The shooting comes months after The Love & Hip Hop star was arrested in October for allegedly participating in a coronavirus relief loaf scam.
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