36-year-old Pretty Ricky member Diamond Blue Smith was arrested on October 5th for his alleged involvement in a multi-million dollar fraud scheme. Blue is accused of obtaining more than $1 million in COVID-19 relief loans for two of his companies under the U.S. government’s Paycheck Protection Program (PPP).
Prosecutors claim he used “falsified documents” to secure the funds, and then spent $96,000 on a new Ferrari and other luxuries.
He is also alleged to have helped others obtain PPP loans. Blue was charged with wire fraud, bank fraud and conspiracy to commit wire fraud and bank fraud, and appeared before a judge in Georgia on Friday, October 09. He posted a picture on IG with the caption “Wish me luck”.
Later Blue stepped into the ShadeRoom comments to reveal that he was facing the max.
Blue, his co-conspirator Tonye C. Johnson, and 11 other defendants are involved in the case. More details will be provided later.