Record company and shipping company involved in drug distibution case issue statements!

We've been following this story since for the past year or so and it looks like this like there won't be a resolution any time soon.

Last week, TheSmokingGun.com reported that federal prosecutors had found evidence that Interscope's Los Angeles office was used to funnel millions of dollars worth of cocaine and drug proceeds.

According to a rep for the label, the information that is being reported is very inaccurate.While the statement stopped short of denying that the office was used by Rosemond, the rep stated that Interscope Records, nor any of their employees, were being targeted in the ongoing investigation.

"The information being reported in the press regarding Interscope Records' involvement with the ongoing criminal prosecution of James Rosemond is both erroneous and completely unsupported," Interscope told Billboard Magazine in a statement. "Interscope Records has been informed by the United States Attorney's Office for the Eastern District of New York that there is no evidence that any employee of UMG or Interscope Records had any involvement in the drug trafficking ring being prosecuted by that office, nor any knowledge of the contents of any of the packages that were purportedly shipped to its offices. Further, neither UMG nor Interscope Record are a subject or target of the investigation. UMG and Interscope will continue to cooperate with the United States Attorney's Office regarding this matter."

Rosemond is accused of using Rock-It Cargo to ship hundreds of kilos of cocaine per month to various recording studios and then sending the illegal proceeds back to the West Coast, in vacuum sealed bags stuffed with $20 and $50 dollar bills.

Rock-It Cargo, was founded in 1978, employs over 300 people and has 23 offices throughout the United States and the world.

"Rock-It Cargo is neither the subject of the investigation, nor implicated in any way. The Company has provided the U.S. Attorney with all the documentation it has requested,” Rock-It Cargo's CEO told AllHipHop.com in a statement.

The company, which specializes in handling complex itineraries mainly for the global music and touring industry, assured its customers that it was committed to maintaining the highest levels of transportation security throughout the world.

"With regard to the current investigation, the company followed all of the government's and its own required procedures and remains in compliance with all Federal and state regulations.”

James “Jimmy Henchman” Rosemond is facing a life sentence for allegedly heading up a cocaine dealing operation that distributed hundreds of kilos of cocaine per month and raked in over $10 million annually, since the investigation began in 2007.