After checking up on it, it turns out that it is. There really is a TV show currently being taped called Ghetto Court with old time rapper Eric B (of Eric and Rakim) as the judge. I can't tell you anything more at this time except that the exec producers of the show are Eric B and Cassandra Cooper
And I have no information on when it will be on the air other than it will be "sometime this year". But it is being taped in New Jersey and supposedly they already have 25 episodes already in the can
And I have seen an actual on set photo of a show being taped and some set photos taken of the defendants testifying. Though I have to say that it looks like they're trying hard to look like a skit from In Living Color. So yes folks it definitely is a real show
But the more important question is, will you watch?