Los Angeles Times: Record Label Chief Is Indicted on Money-Laundering Charges
Irv 'Gotti' Lorenzo is accused of using his Murder Inc. to help hide drug money.
By Chuck Philips and Thomas S. Mulligan
Times Staff Writers
January 27, 2005
Irv "Gotti" Lorenzo once saw murder as a metaphor.
Back in 1997, when the charismatic music producer got his own record label from Island Def Jam, he named it Murder Inc. because of what he called the moniker's 'ill double meaning.'
'When you have a hot record, people say you put out a hit,' he said in a 2003 interview. 'I thought, 'I'm going to call my artists murderers, because they put out hits.' This is the whole psyche behind it, man. Nothing more.'
On Wednesday, federal prosecutors alleged that there was, in fact, a lot more behind it.
'They don't call it gangster rap for nothing,' said Frederick Snellings, special agent-in-charge of the FBI's New York criminal division. 'It's pretty clear that the image isn't accidental.'
In a 37-page indictment, the Justice Department accused Lorenzo and his brother Christopher of laundering drug money for their neighborhood friend Kenneth ''Preme' McGriff, who was charged separately with the murders of three men.
In all, prosecutors allege that the Lorenzo brothers and McGriff funneled about $1 million through various ventures, including Murder Inc., which has since tried to soften its image by renaming itself The Inc. The indictment further alleges that Gotti cut checks totaling more than $280,000 to pay McGriff for business and personal expenses, including travel and hotel costs.
The indictment portrays the Lorenzos, McGriff and five other individuals as members of a dangerous criminal enterprise that furthered its illegal activities by 'intimidating and threatening to use physical violence against others to dissuade them from cooperating with law enforcement.'
The Inc., co-owned by Universal Music Group's Island Def Jam Records, has sold about 20 million records with a roster headed by artists Ja Rule and Ashanti; no performers were charged in the indictment. Ja Rule's current album, 'R.U.L.E.,' peaked at No. 7 on the Billboard chart. Ashanti is appearing in the movie 'Coach Carter,' which debuted atop the box-office list nearly two weeks ago.
more at the link above
an interview with him here
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