One day after the New York Jets cut Josh Bellamy, the wide receiver is arrested on charges of wire and bank fraud.
The New York Jets cut wide receiver Josh Bellamy late Wednesday afternoon. The move was a bit surprising, but not many batted an eye. Bellamy was on IR and hadn’t made much of an impact in 2019. Turns out, the cut may not have had anything to do with Bellamy’s play on the football field.
Ian Rappaport of NFL Network is reporting that Bellamy has been arrested for wire and bank fraud.
Ex-#Jets WR Josh Bellamy was arrested this morning and charged with wire fraud, bank fraud, and more for his alleged role in a scheme to file fraudulent loan applications seeking more than $24 million in PPP Loans. He was cut yesterday. More here: https://t.co/J0Ynp2tVyN
— Ian Rapoport (@RapSheet) September 10, 2020
Bellamy reportedly played a role in a scheme to defraud the government’s Paycheck Protection Program. He was part of a scheme to file fraudulent loans for fake businesses to attain $24 million in PPP loans.
The Department of Justice details Bellamy’s role in their report, “Bellamy is alleged to have obtained a PPP loan of $1,246,565 for his own company, Drip Entertainment LLC. Bellamy allegedly purchased over $104,000 in luxury goods using proceeds of his PPP loan, including purchases at Dior, Gucci, and jewelers. He is also alleged to have spent approximately $62,774 in PPP loan proceeds at the Seminole Hard Rock Hotel and Casino, and to have withdrawn over $302,000. Bellamy also allegedly sought PPP loans on behalf of his family members and close associates.”
Bellamy is one of 10 defendants in the case. He is the person related to the NFL to have been arrested. Bellamy is the second New York football star to have been arrested and charged with a crime in 2020, along with former New York Giants’ star DeAndre Baker.