After being acquitted on money laundering charges last year, Irv Gotti is planning to rebuild Murder Inc. and re-establish ties with former business partner Universal Music Group.
Irving ‘Gotti’ Lorenzo is expected to receive $30 million from Larry Goldfarb, managing partner of the San Francisco-based hedge fund BayStar Capital, which will help his label bounce back for the next three to five years.
The label head of Murder Inc. – now simply known as The Inc. – is also working on a distribution deal with Universal to promote and release his future projects.
In January 2005, Gotti was indicted on charges that Murder Inc. sheltered money for notorious drug kingpin Kenneth “Supreme” McGriff, but was later acquitted by a federal jury in December. During the ordeal Universal severed ties with his label, and after his acquittal Gotti publicly accused the company of unfairly ousting him before getting the chance to prove his innocence in court.
Murder Inc. is the home to popular artists such as Ja Rule and Ashanti, and at its highest point had a revenue exceeding $50 million.
Irving ‘Gotti’ Lorenzo is expected to receive $30 million from Larry Goldfarb, managing partner of the San Francisco-based hedge fund BayStar Capital, which will help his label bounce back for the next three to five years.
The label head of Murder Inc. – now simply known as The Inc. – is also working on a distribution deal with Universal to promote and release his future projects.
In January 2005, Gotti was indicted on charges that Murder Inc. sheltered money for notorious drug kingpin Kenneth “Supreme” McGriff, but was later acquitted by a federal jury in December. During the ordeal Universal severed ties with his label, and after his acquittal Gotti publicly accused the company of unfairly ousting him before getting the chance to prove his innocence in court.
Murder Inc. is the home to popular artists such as Ja Rule and Ashanti, and at its highest point had a revenue exceeding $50 million.
