The CEO of Epic Records is speaking up about not posting bail for Bobby Shmurda's arrest.

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Shmurda was arrested last December on charges related to murder and weapons and his bail was set at $2 million. While some may have thought the record company he's a part of would help out, CEO L.A. Reid of the label explained the business's part in this legal battle.

"People don't know anything about my business, right?" Reid said in Thursday's report from Hip Hop D.X. "It's really not their business. That's the truth about it, right? We're not elected officials here. And we're not at liberty to disclose how we do business. It's fair practice, I can tell you that. But it's not the industry that it once was. We seriously don't make the money we used to make. That's a fact of life, right?"

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The CEO then explained how the rapper's legal trouble is different from how it was in the mid-90's when rap artist Snoop Dogg was acquitted of murder charges.

"Bobby Shmurda is not the same as Snoop Dogg and Murder Was The Case, who's coming off The Chronic and his first album," Reid said. "It's a different era, you know? And, we're a publicly held corporation. We just aren't in the same position we were in back in those days. So, it's a different day."

Despite the situation with Shmurda, Reid has hope for what will happen next.

"I'm crazy about that kid and I think about him often," he said about the rapper. "And I feel like, ya know, his better days are ahead of him. I do believe that. And I think it's unfortunate what has taken place."

Tags: Bobby Shmurda