Jets Wide Receiver Charged With Stealing $1.2MM In PPP Funds, Blowing It On Jewelry And Gambling


One day after JPMorgan admitted that several of its employees had illegally “pocketed” stimulus funds and that it was working with law enforcement after identifying cases of customers “misusing” PPP funds, on Thursday Feds charged 57 people with stealing $175 million from a the PPP program, adding that they are eyeing hundreds more suspected cases of fraud. Over 500 individuals who may have defrauded the Paycheck Protection Program.

Among those charged was Former New York Jets wide receiver Josh Bellamy. The DOJ accused him of participating in a $24 million scheme to fraudulently receive coronavirus-relief loans.

According to the indictment, Bellamy, 31, obtained a PPP loan of $1.2 million for his company, Drip Entertainment, and used the money to purchase over $104,000 in luxury goods from Dior, Bucci and other jewelers. He also spent $62,774 in loan money at the Seminole Hard Rock Hotel and Casino and withdrew more than $300,000.

The eight-year National Football League veteran was released by the Jets this week, according to news media reports.

The complaint claims Bellamy also sought loans on behalf of family members and friends and worked with co-conspirators in exchange for kickbacks.

Bellamy WAS one of 11 defendants, according to a press release by the U.S. Justice Department on Thursday. In total, the group applied for more than $24 million of loans and received at least $17.4 million, the release said. – READ MORE

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