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The old saying mind the company you keep is ringing true once again, this time for super producer Swizz Beatz.

Owners of  popular Arizona car dealerships and nightclubs frequented by Swizzy and other members of Hip-Hop’s elite are facing federal drug charges after police say they laundered money from Mexico and scammed banks out of loan money.

Nazreth Derboghossian is facing 102 felony counts including conspiracy, fraudulent schemes, assisting in a criminal syndicate and theft by extortion.

His partner Jodi Upton is being named as a defendant in the case but has yet to be charged.

Swizz Beatz is the godfather of the couple’s son.

Also charged in the crime scheme are Katie Marie Peters who is facing 21 felony counts of conspiracy, money-laundering, forgery and fraud while the couple’s lawyer, Mario del Fuente Mix, faces 13 similar counts.

According to police the associates conned banks out of up to $750,000 in loans for their Exotic Auto Sales and Leasing and Scottsdale Lotus car companies which they never paid back.

Additionally the group is believed to have funneled in millions of dollars from Mexico to fund their popular nightclubs, Scorch Bar and CNBC.

Officials became suspicious after revealing that a convicted drug trafficker was claiming ownership of the establishments.

CNBC had numerous guest appearances from Hip-Hop artists including LL Cool J, Busta Rhymes and 50 Cent.

Katie Marie Peters, Nazreth Derboghossian and Mario de la Fuente Mix

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