Florida rapper bought Ferrari with COVID-19 relief money, feds say

Diamond Blue Smith joins at least a dozen other people charged in a fraud scheme which secured at least $17.4M in COVID-19 relief funds

A Florida rapper allegedly pocketed more than $1 million in COVID-19 relief funds, which he used to buy a Ferrari and other luxe items, federal prosecutors said.

Diamond Blue Smith — who is a member of the group Pretty Ricky — was charged this week for his role in a $17 million coronavirus relief scheme, according to the US Attorney’s Office for the Southern District of Florida.

Prosecutors allege that Smith — who also appears on the show “Love & Hip Hop: Miami” — obtained $427,000 through his company, Throwbackjersey.com, by falsifying documents for a Paycheck Protection Program (PPP) loan.

The PPP program was meant to help struggling small businesses during the coronavirus pandemic.

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The recording artist also was able to secure another PPP loan of $708,00 through another company, Blue Star Records, prosecutors said.

He then allegedly used the loan proceeds to buy a $96,000 Ferrari as well as $2,290 in goods from Versace.

On another occasion, he spent more than $27,176 at the Seminole Hard Rock Hotel and Casino, prosecutors said.

The FBI also accused Smith in a complaint of fraudulently seeking PPP loans on the behalf of others in order to get kickbacks.

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At least a dozen other people are charged in the scheme, which secured at least $17.4 million in relief funds, prosecutors said.

Smith’s Ferrari — it was not immediately clear which model — was seized when he was arrested Monday on charges of wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud.

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