There are likely many stories that could potentially be associated with someone named 'White Boy Ricky'. Without more details, it's difficult to tell the whole story. It could be a story about a boy named Ricky who has some sort of unique or interesting experience in a particular community or situation.
Indeed, it's based on a true story. Richard Wershe Jr., known as White Boy Rick, was a real person. His life was filled with extraordinary events in the context of the Detroit drug scene in the 1980s. The movie attempts to depict his experiences, including his time as an informant, his family situation, and his struggles within the criminal underworld and against the justice system.