A bookkeeper for the Inc. Records, which has come under fire for alleged tax evasion and funneling proceeds from a Queens, New York, drug dealer, was indicted Monday on money-laundering charges.
Federal prosecutors investigating alleged ties between drug dealers and the label arrested Cynthia Brent and charged her with laundering more than $1 million in drug money and tampering with cash deposits in order to avoid federal reporting requirements, according to The Associated Press.
Brent was arraigned Monday afternoon and released on $200,000 bond.
The label is home to rapper Ja Rule, who said of the indictment: “I don’t really know what’s going on. It’s shocking news to me just like you guys. We’ll wait and see what’s going on with that situation.
“It’s right before my album drops,” he added. “I thought it was a little peculiar, but I don’t know.” Ja’s R.U.L.E. was released Tuesday (November 9).
Allegations of laundering drug money surfaced when the Inc.’s offices and recording studio were raided in January 2003 by the NYPD (see “Drugs, Friends & Allegations: Inside The Murder Inc. Raid” and “The Inc.’s Irv Gotti To Be Indicted For Tax Evasion, Newspaper Says” ).
Other artists on the Inc.’s roster include Ashanti, Lloyd and label head Irv Gotti.
This story was updated on November 9 at 5:18pm ET.