YMCMB's Peter Pankey Jr. aka Cory Gunz was arrested in the Bronx Sunday afternoon for possession of a loaded firearm.  Cory's dad of whom he is extremely close, veteran rapper Peter Gunz confirmed the bad news with MTV.  The details are still sketchy as to what exactly lead to Cory being arrested in the first place, but 

Peter told MTV " This is Cory's first offense, but sometimes they like to make an example out of rappers and people with any kind of celebrity to them.  I spoke to the arresting officer, and so far, what I'm hearing from him is that they got a phone call at the station saying they should 'look out'.  They didn't know he was Cory Gunz.  They just saw a bunch of kids following him around.









Cory's mentor, Nick Cannon tweeted of his arrest saying "Great dude, just a little bad luck.  Cory Gunz is holding strong and will be out shortly.  Family is here if and when anything is needed".

Cory had a chance to release a small statement on the matter and said " This was a big mistake on my part. I didn't have any intentions of harming anyone or committing a criminal activity. So many young people look up to me and I need to fight though this."

Last word, Cory was being held in Central Booking in the Bronx and unfortunately, although he has no prior criminal record, New York law mandates a prison sentence of three and a half years for illegal possession.