According to reports, federal agents spotted the Hip-Hop mogul near The W Hotel around Union Street in midtown Manhattan early this morning.
He fled when approached by agents, who caught and tackled him, reports say.
Arresting agents apprehended Rosemond during the foot chase near E. 21st Street.
Rosemond is currently indicted for his role in a massive cocaine conspiracy ring, which allegedly shipped hundreds of kilos of cocaine to studios in New York and sent millions in proceeds to the West coast.
Two of Rosemond's associates have also been charged with the murder of Lowell "Lodi Mack" Fletcher, who was shot and killed in the Bronx.
Rosemond's capture today ended a two week manhunt that started on May 29th, when it was announced that federal agents were seeking him.
Last week, AllHipHop.com broke the news about Rosemond's alleged involvement in the 1994 shooting of Tupac Shakur, inside The Quad studios in Manhattan.
A convicted murderer and associate of Rosemond's named Dexter Isaac, claimed Rosemond paid him $2,500 to rob Shakur, who was subsequently shot five times.
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