On Thursday, police arrested an NFL wide receiver due to his alleged involvement in a Paycheck Protection Program loan scheme.
Police arrested former Chicago Bears wide receiver Josh Bellamy for his involvement in the alleged scheme. According to the U.S. Department of Justice, police charged Bellamy with wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud.
The news came just a day after the New York Jets released Bellamy. New York placed Bellamy on the PUP list in May, ending his 2020 season before it even started.
“Bellamy is alleged to have obtained a PPP loan of $1,246,565 for his own company, Drip Entertainment LLC,” the DOJ’s report reads. “Bellamy allegedly purchased over $104,000 in luxury goods using proceeds of his PPP loan, including purchases at Dior, Gucci, and jewelers.”
But that’s not all. The DOJ also said Bellamy is “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to have spent approximately $62,774 in PPP loan proceeds at the Seminole Hard Rock Hotel and Casino, and to have withdrawn over $302,000.”
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 is journeyman wide receiver, playing for the Kansas City Chiefs, Washington Redskins and the then-San Diego Chargers before eventually landing with the Chicago Bears.
He played five seasons in Chicago before signing with the Jets in 2019. He played in seven games, catching two passes for 20 yards.
His best year came with the Bears in 2017, when he recorded 24 catches for 376 yards and a touchdown.
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