Really, dude? NFL wide receiver Josh Bellamy has been arrested for misusing COVID loans intended for those in dire straits on luxury goods and casinos.
TMZ reports that. Bellamy was arrested on Thursday, September 10. Too add salt to the struggle, he was just cut by the Jets two days ago.
31-year-old Bellamy — who was cut by the NY Jets just 2 days ago — is essentially accused of participating in a scheme in which people applied for more than $24 MILLION in PPP loans, intended for business owners to help stay afloat during the pandemic.
But, prosecutors say neither Bellamy nor his co-conspirators put the money toward their businesses — instead, Bellamy blew a fortune on things like custom jewelry, designer clothes and casino trips.
Bellamy and his alleged team of scammers applied for $24M in PPP loans and received about $17.4M. He also supposedly got kickbacks from those he brought into the scheme while applying for the business loans with doctored paperwork.
Bellamy is looking at bank fraud and wire fraud charges which carry healthy sentences if convicted.
NFL’s Josh Bellamy Arrested For Misusing PPP Loan Funds On Gucci, Dior & More was originally published on hiphopwired.com
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