The rapper pleaded guilty on Aug. 4, 2021, after being apprehended on Oct. 6, 2020, for filing the loan application, which turned out to be fraudulent. Blue received $24 million in emergency funds allocated via the PPP loan program.
Blue went to Instagram on Dec. 23, 2021, to address the case.
“We all make mistakes… I admit I made a mistake, I’ve learned from it the hard way and won’t make it again,” he said. “My mistakes don’t define me as a man and I will come out of this more than I was before.”
For one of his companies, “Throwbackjersey.com,” Blue received a loan of $426,717, and his other company, “Blue Star Records LLC,” received $708,065. The Department of Justice says that he used the money at the Seminole Hard Rock Hotel and Casino in South Florida, and also purchased a Ferrari.
Blue has been ordered to pay $1,111,345 in restitituion and $1,134,782 in forfeiture.
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