REPORT: Rapper Diamond Blue Smith Used $1 Million Of PPP Loan To Purchase Ferrari

REPORT: Rapper Diamond Blue Smith Used $1 Million Of PPP Loan To Purchase Ferrari


A Florida rapper has been accused of using $1 million in Payroll Protection Program (PPP) loans to buy a Ferrari and other expensive items.

Diamond Blue Smith was charged with wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud Tuesday in the Southern District of Florida, according to the US Attorney’s Office for the Southern District of Florida.

Florida Recording Artist and Pennsylvania Man Charged for Role in $24 Million COVID-Relief Fraud Scheme https://t.co/do0TbGerQt

— Justice Department (@TheJusticeDept) October 6, 2020

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The complaint accused Smith and Tonye C. Johnson of getting millions of dollars through PPP loans fraudulently. (RELATED: ‘Love & Hip Hop: Atlanta’ Star Used $2 Million PPP Loan To Buy Diamond Jewelry And Rolex, Feds Claim)

“Smith, a recording artist, is alleged to have obtained a PPP loan of $426,717 for his company, Throwbackjersey.com LLC, using falsified documents,” the press release said. “Upon completion of that loan, Smith then sought and obtained another PPP loan of $708,065 for his other company, Blue Star Records LLC, using falsified documents. Smith allegedly purchased a Ferrari for $96,000 and made other luxury purchases using PPP loan proceeds.”

The Ferrari was reportedly seized

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