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The group's name is an acronym for "Erick and Parrish Making Dollars", referencing its members: rappers Erick Sermon ("E Double") and Parrish Smith ("PMD"). Diamond J, DJ K La Boss, and later DJ Scratch were DJs for the group.
The duo split by January of 1993, under controversial circumstances. According to interviews in The Source and Rap Pages, in late 1991, Smith’s house was burgled by armed intruders. According to Smith, in the ensuing police investigation, one of the apprehended culprits supposedly gave up Sermon’s name as having allegedly paid them to do it. Sermon was arrested and briefly detained for questioning, but no charges were filed.