Update 12/22/2021 10:53pm:
According to reports, Pretty Ricky's Baby Blue was handed down a sentence of 20 months for conspiracy to commit wire fraud. Baby Blue admitted 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.
Original 05/28/2021 7:21pm:
Pretty Ricky member Baby Blue publicly addressed his loan fraud case for the first time on Friday. Taking to social media, Baby Blue warned his followers to stay away from PPP loans in order to avoid possible legal trouble.
In his statement, Baby Blue told viewers to deny any offer to apply for a PPP loan, citing that ignorance is not a proper legal defense. He also informed followers that it's illegal to use PPP funds for anything other than payroll. He added that the government monitors spending closely and advised those who have received PPP loans to return the money.
"In my opinion, the best way to stay safe from everything going on surrounding these PPP Loans is just stay away from them," he wrote in the caption. "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."
Baby Blue is set to plead guilty in his fraud case, where he's accused of filing fraudulent PPP loan applications for luxury items.
Look above to read Baby Blue's full statement.
