NFL’s Josh Bellamy Arrested For COVID Loan Fraud, Allegedly Blew Money on Gucci
NFL Wide Receiver Josh bellamy was arrested on Thursday after officials said he abused government loans meant to help struggling businesses survive the COVID pandemic on lavish items such as Gucci, Dior and trips to the casino.
Bellamy, 31 – who was cut off by the New York Jets just 2 days ago – is essentially accused of participating in a program in which people requested more than $ 24 MILLION in PPP loans, intended to business owners to help them stay afloat during the pandemic.
But prosecutors say neither Bellamy nor his co-conspirators have invested in their business – instead, Bellamy made his fortune in things like personalized jewelry, designer clothes and trips to the casino.
In fact, officials claim that Bellamy spent $ 95,000 on personalized jewelry, $ 5,381 at Gucci and $ 2,014 at Dior.
They also claim he lost over $ 62,000 on a recent trip to the Seminole Hard Rock Hotel and Casino.
Of the $ 24 million requested, officials said Bellamy and his co-conspirators received about $ 17.4 million in PPP loans.
The alleged conspiracy is complicated but it boils down to this …
Officials believe Bellamy not only applied for PPP loans for his own business based on fake records … but would then recruit others to apply for giant loans – and when that money was received from the government, Bellamy would take a considerable rebate from the borrower. .
Prosecutors say they have bank statements showing that Bellamy recently made large bank withdrawals – an amount of around $ 302,800 between May and July 2020.
Officials say Bellamy executed the plan as he prepared for the 2020 NFL season.
If convicted, charges of bank fraud and wire fraud carry long prison sentences.
Bellamy was an undrafted free agent from Louisville in 2012 – and has continued to play for the Chiefs, Bears, Jets and others.
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