The Lorenzo brothers were acquitted today (December 2nd) by Brooklyn jurors.

Irving Lorenzo and his brother, Christopher, were found not guilty of money laundering at a trial that was closely followed by some of the music industry's biggest stars.

Supporters in the gallery erupted in applause as the jury's findings were announced.

"We did it! We did it!" Irving Lorenzo shouted as his lawyers carried him out of the courthouse. "In this case, they had it 100 percent wrong."

In closing arguments, prosecutor Carolyn Pokorny told jurors that the Lorenzos struck an illicit deal in the late 1990s with Kenneth "Supreme" McGriff, who she described as "one of the biggest, baddest, most dangerous drug lords in New York City."

The defense countered that the brothers were victims of guilt by association.

"There's nothing illegal about knowing a criminal, about socializing with a criminal, even doing business with a criminal, unless you commit a crime," said defense attorney Gerald Shargel. "Irv and Chris Lorenzo committed no crime."

McGriff allegedly funneled more than $1 million in drug money, much of it from Baltimore, Maryland, through Murder Inc. in return for serving as the Lorenzos' protector and enforcer. A government witness who once worked at the label testified that he saw a "huge amount" of money delivered in shopping bags and a shoe box in 2000.

Prosecutors said Murder Inc. cut tens of thousands of dollars in checks for sham corporations controlled by McGriff, including a movie company that produced a straight-to-video film called Crime Partners 2000. The label also covered his expenses as he traveled around the country masquerading as an entertainment executive, Pokorny said.

The defense portrayed Irving Lorenzo as a legitimate businessman who went from rags to riches by taking the Gotti name -- an ode to the late mob boss -- as a sales ploy and teaming with Def Jam, a subsidiary of Universal Music, to start Murder Inc. He invested in McGriff's movie because he was an old friend from their Queens neighborhood in New York City, Shargel said.

"Even if Supreme McGriff was the biggest drug dealer in the world, and even if 'Crime Partners' was the worst film in the history of American entertainment, there is nothing illegal about giving backing to a movie," he said.

Murder Inc. changed its name to The Inc. last year after executives said the label's image was hurt by the racketeering case.

Source: Associated Press