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Jets Wide Receiver Charged with Stealing $1.2MM in PPP Funds, Blowing it on Jewelry and Gambling

By Tyler Durden | 10 September 2020

BUSINESS INSIDER — 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. […]

3 Comments on Jets Wide Receiver Charged with Stealing $1.2MM in PPP Funds, Blowing it on Jewelry and Gambling

  1. You can call me a racist, I don’t care but it sure seems that sizable percentage of African Americans live lives of depravity. They are certainly deluded spiritually by Black Liberation Theology that has tainted most black churches according to a fellow at Acton.org by the name of Bradley who has written 2 books on the subject.

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