Former NFL star allegedly obtained thousands and thousands of {dollars} in fraudulent PPP loans

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Former New York Jets broad receiver Josh Bellamy was arrested Thursday for his alleged position in a $ 24 million Covid-19 reduction program, the US Division of Justice advert Thursday.

The lawsuit says Bellamy, together with 10 different defendants, allegedly requested Paycheck Safety Program (PPP) loans via no less than 90 fraudulent requests for a complete of greater than $ 24 million. Many of those requests have been authorized, paying no less than $ 17.4 million, based on the Justice Division assertion.

For instance, the Justice Division alleges that the 31-year-old former NFL participant secured a $ 1.2 million PPP mortgage for his firm Drip Leisure LLC, however used the funds for articles luxurious and journeys to the on line casino.

In line with the assertion, Bellamy would have bought greater than $ 104,000 price of luxurious items from Dior, Gucci and varied jewelers with the proceeds of the PPP mortgage. He additionally reportedly spent round $ 62,774 on the mortgage at Seminole Onerous Rock Resort and On line casino. Bellamy is claimed to have withdrawn greater than $ 302,000 in money.

As well as, Bellamy is claimed to have utilized for PPP loans on behalf of relations and shut associates, the assertion mentioned.

Bellamy has been charged with wire fraud, financial institution fraud and conspiracy to commit wire fraud and financial institution fraud within the Southern District of Florida.

Diego Weiner, an lawyer for Bellamy, instructed CNBC Make It he was nonetheless “very early” within the case and Bellamy “is an efficient and first rate man, presumed harmless by our legal guidelines.”

“We hope the general public will give him the good thing about the doubt proper now. Too usually skilled athletes are exploited by individuals who purportedly act on their behalf as brokers or advisers. We are going to all know extra as we go. measurement. is progressing, ”Weiner mentioned.

Bellamy was printed by the New York Jets on Tuesday after a shoulder damage put him on the shortcoming to carry out listing. In line with ESPN, the Jets have been unaware of his arrest on the time of launch, a supply mentioned.

Bellamy performed seven seasons within the NFL. Final 12 months he signed a two-year contract, $ 5 million contract with the Jets.

This story has been up to date to incorporate an announcement from Bellamy’s lawyer Diego Weiner.

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