Irv Gotti News

(7/1/03, 3 p.m. ET) -- Murder Inc. entrepreneur Irving "Gotti" Lorenzo, who is under federal investigation for money laundering, recently told the Los Angeles Times that he was just helping friend and street criminal Kenneth "Supreme" McGriff produce a low budget-action film Crime Partners. Prosecutors charge that McGriff used illegal drug proceeds to help start Murder Inc., the Vivendi-Universal Music Group-distributed record label.

Government sources claim that when police raided Murder Inc.'s offices in January, they discovered $30,000 in alleged drug money. Officials believe McGriff brought bags of cash to Gotti's New York office. The government said that Lorenzo laundered the money to write phony checks to McGriff and plan elaborate trips.

Gotti, who broke a five-month silence, said that he never saw McGriff--who "did not have a dime"--carrying any bags of cash. He added that he did pay for some trips but that he "never wrote phony checks to [Su]Preme."

In Gotti's first public interview discussing the money laundering claims, he told writer Chuck Phillips of the L.A. Times, "I put out hits that make millions of dollars. I don't need to do anything illegal."

Gotti has helped spawn the careers of such artists as Jay Z, DMX and Ja Rule. Murder Inc. releases Ashanti's highly-anticipated sophomore album, Chapter II, Tuesday (July 1) which features the latest single "Rock Wit U".

Gotti, who makes millions of dollars each year, said that the government is wrong about the accusations. He said he helps friends get off the street and uses his earnings to support his family.

When asked how the recent accusations have affected him, Gotti responded, "It's crippling me. The bank has cut us off. The landlord kicked us out. I love America, man, but this here, I don't understand. Still, I have faith. I believe that when the prosecutors finish reviewing everything, they will learn I did nothing wrong."

For more news at LAUNCH, click here.