2008 Woodie Awards
Record executive facing charges of money laundering
By Colin McGuire
Rocket Life/A&E Editor
Issue date: 11/18/05 Section: Entertainment
The story of the week goes to the beginning of Irv Gotti's federal money-laundering trial which began Wednesday. Gotti, owner and CEO of the gigantic money-making hip-hop record label, The Inc., had charges filed against him earlier this year for reportedly running a covert money-laundering operation through his record label, along with its corporate bank accounts.
According to reports, Gotti accepted shopping bags and shoeboxes filled with cash, which came from convicted crack dealer Kenneth McGriff's drug enterprises, and then through illegitimate film and record deals, cleaned out the illegal profits. Prosecutors believe that this method was utilized to launder more than a million dollars of McGriff's money, while in return, the crack dealer would serve as The Inc's so-called "enforcer."
When initially captured by police earlier this year, Gotti was released on a one million dollar bond. The leader of the record label formerly known as Murder Inc. has molded and guided the extremely successful careers of pop stars Ja Rule and Ashanti, both of whom turned out Wednesday to support their boss. If convicted, Gotti could spend time, a long time, in prison.
Moving on to somewhat happier news in the world of music, the first batch of bands for 2006's installment of the Warped Tour was announced this past week. According to Kevin Lyman, founder of the punk rock festival, Motion City Soundtrack, Thursday, NOFX, Rise Against and From First To Last will all grace the stages of this summer's traveling carnival.
Lyman told MTV that the reasoning behind releasing some of the bands' names so early was the incredible amount of e-mails he has been receiving from kids already wanting to know who will be on the tour this summer. If Lyman has his way, this announcement will shut all of you hipsters up. If I had mine, you would all simply go away forever.
In other touring, pseudo punk-rock, pseudo metal news, everybody's favorite prankster, Bam Margera, is kicking off his Viva La Bands tour this Saturday in Atlantic City, N.J. The tour, which will only last for five dates, two being in Philadelphia, will feature the band he obviously can't get enough of, HIM, along with Finch, Fireball Ministry and Skindred.
Finally, proving that action figures do not mean nearly as much as they used to, pop-punks My Chemical Romance announced plans this week to release their own line of action figures sometime next month through SEG Toys, which, ironically enough, has done figures for such bands as Green Day, Metallica and Good Charlotte before.
According to SEG, the toys will stand nearly five inches tall and have exactly 16 points of articulation. Each member of the band will be sold separately and come with a red handgun and coffin. The figures can be found at such fine retail outlets as Hot Topic and Spencer's Gifts. I am sure your little sister can't wait.
Until next time, keep listening…
According to reports, Gotti accepted shopping bags and shoeboxes filled with cash, which came from convicted crack dealer Kenneth McGriff's drug enterprises, and then through illegitimate film and record deals, cleaned out the illegal profits. Prosecutors believe that this method was utilized to launder more than a million dollars of McGriff's money, while in return, the crack dealer would serve as The Inc's so-called "enforcer."
When initially captured by police earlier this year, Gotti was released on a one million dollar bond. The leader of the record label formerly known as Murder Inc. has molded and guided the extremely successful careers of pop stars Ja Rule and Ashanti, both of whom turned out Wednesday to support their boss. If convicted, Gotti could spend time, a long time, in prison.
Moving on to somewhat happier news in the world of music, the first batch of bands for 2006's installment of the Warped Tour was announced this past week. According to Kevin Lyman, founder of the punk rock festival, Motion City Soundtrack, Thursday, NOFX, Rise Against and From First To Last will all grace the stages of this summer's traveling carnival.
Lyman told MTV that the reasoning behind releasing some of the bands' names so early was the incredible amount of e-mails he has been receiving from kids already wanting to know who will be on the tour this summer. If Lyman has his way, this announcement will shut all of you hipsters up. If I had mine, you would all simply go away forever.
In other touring, pseudo punk-rock, pseudo metal news, everybody's favorite prankster, Bam Margera, is kicking off his Viva La Bands tour this Saturday in Atlantic City, N.J. The tour, which will only last for five dates, two being in Philadelphia, will feature the band he obviously can't get enough of, HIM, along with Finch, Fireball Ministry and Skindred.
Finally, proving that action figures do not mean nearly as much as they used to, pop-punks My Chemical Romance announced plans this week to release their own line of action figures sometime next month through SEG Toys, which, ironically enough, has done figures for such bands as Green Day, Metallica and Good Charlotte before.
According to SEG, the toys will stand nearly five inches tall and have exactly 16 points of articulation. Each member of the band will be sold separately and come with a red handgun and coffin. The figures can be found at such fine retail outlets as Hot Topic and Spencer's Gifts. I am sure your little sister can't wait.
Until next time, keep listening…
