The Inc's Gotti Charged with Money Laundering
Irv 'Gotti' Lorenzo and his brother Christopher surrendered to the FBI Wednesdey on charges of money laundering, plead not guilty.
According to the Feds, who spent years investigating the label, The Inc's executives were part of an interstate drug ring that not only laundered millions of dollars but also carried out executions on behalf of drug kingpin and friend Kenneth "Supreme" McGriff.
New York City Police Commissioner Raymond Kelly said in a press conference, "They don't call it gangsta rap for nothing--the thug image isn't accidental... this is not an indictment of rap music. If you're involved with money laundering or drug dealing or committing murder, we're coming after you, irrespective of [the music]. That's our business."
The Inc, formerly called Murder, Inc. is part of Def Jam Records and features artists Ashanti
and Ja Rule
. The two execs plead not guilty and were released on one million dollars bond. They face up to 20 years in prison.