These charges have been around for a while now, as was reported comprehensively by my homey Minya back in January. Other than the accusation about 50 cent, this seems to reiterate what we already knew they were investigating, but with a little more detail:
Rap industry insiders have told investigators that the successful Murder Inc. music label was bankrolled by a notorious drug dealer who also was involved in a shooting of hip-hop superstar 50 Cent. The allegations were detailed in a newly unsealed affidavit obtained yesterday (May 1). The document was filed under seal in January in a federal money-laundering investigation of Murder Inc. and other rap industry enterprises.
The affidavit, signed by an Internal Revenue Service agent, accuses Kenneth McGriff -- the convicted leader of a murderous drug gang in Queens -- of forming an illicit partnership with Murder Inc. owner and longtime friend Irv Gotti. It alleges McGriff provided drug proceeds as "start-up money" for the label in the late 1990s. Murder Inc. is now home to top-selling recording artists such as Ja Rule and Ashanti.
Neither McGriff nor Gotti have been charged in the money laundering case, which prosecutors have refused to discuss. McGriff's attorney, Robert Simels, called the allegations groundless. "As far as I know, he and 50 Cent had a good relationship," he said...
As noted in Minya's original piece, Ja Rule has bragged openly about Murder Inc's connection with Preme, including one rhyme that boasts: "funds unlimited, backed by my 'preme team crime representatives.."
