NEW YORK JETS CUT JOSH BELLAMY AFTER HE WAS ARRESTED FOR $24 MILLION COVID-19 LOAN FRAUD
Josh Bellamy is a NFL WR who last played for the New York Jets! Today we got word that Josh Bellamy was cut by the Jets after it was revealed he got over $24 Million dollars from Covid-19 pandemic loans. Bellamy was arrested for wire fraud, bank fraud, conspiracy and federal wire fraud. The Justice Department noted that Bellamy participated in the submission of some 90 applications that secured roughly $17.4 million.
According to reports, former Chicago Bears and New York Jets wide receiver Josh Bellamy was arrested for his role in a wire fraud scheme worth $24 million. Bellamy was charged with federal wire fraud, bank fraud, and conspiracy on Thursday in connection with the fraudulent Payroll Protection Program applications. The Justice Department noted that Bellamy participated in the submission of some 90 applications that secured roughly $17.4 million.
Yahoo! Finance’s Alexis Keenan reports, “Bellamy allegedly secured more than $1.2 million for his company, Drip Entertainment LLC, and spent $104,000 of its proceeds on luxury goods from Dior and Gucci. Another $62,774 was allegedly spent at the Seminole Hard Rock Hotel and Casino.”
Bellamy bonded out and faces up to 20 years in prison and over $250,000 in fines. Stay tuned for more updates!
Josh Bellamy arrested: