Yesterday the New York Jets released wide receiver Josh Bellamy and now we know why. According to a Department of Justice press release, Josh Bellamy was arrested in the Southern District of Florida with charges of wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud.
The former Louisville wide receiver was arrested and charged in connection with obtaining $1.2 million in Paycheck Protective Progam (PPP) loans, according to the Department of Justice‘s press release on September 10.
The report claims Bellamy purchased over $104,000 in luxury goods using his allotted PPP loan, including items from Christian Dior and Gucci.
Bellamy also reportedly spent $62,774 of PPP loan money at the Seminole Hard Rock Hotel and Casino, where he withdrew over $302,000.
This is wild, and will likely put him in a federal prison. When the feds crack down they do not want their money back they want a conviction.