Former NFL Star Josh Bellamy Charged In $24 Million Coronavirus Relief Loan Scam - MTO News

Former NFL Star Josh Bellamy Charged In $24 Million Coronavirus Relief Loan Scam

Author:
Updated:
Original:

Former New York Jets wide receiver Josh Bellamy has been arrested after being implicated in a $24 million scheme after receiving federal funds intended for coronavirus relief, the U.S. Justice Department announced Thursday.

Bellamy was charged in a federal criminal complaint filed in the Southern District of Florida with wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud.  

The government alleges that Bellamy conspired with others to obtain millions of dollars in fraudulent PPP loans. Early in the scheme, Phillip J. Augustin allegedly obtained a fraudulent PPP loan for his talent management company using falsified documents. He then began to work with other co-conspirators, including Bellamy, on a scheme to submit numerous fraudulent PPP loan applications for confederate loan applicants, in order to receive kickbacks for obtaining the forgivable loans for them. 

Bellamy is alleged to have obtained a PPP loan of $1,246,565 for his own company, Drip Entertainment LLC. Bellamy allegedly purchased over $104,000 in luxury goods using the proceeds of his PPP loan, including purchases at Dior, Gucci, and jewelers.  

He is also alleged to have spent approximately $62,774 in PPP loan proceeds at the Seminole Hard Rock Hotel and Casino and to have withdrawn over $302,000. Bellamy also allegedly sought PPP loans on behalf of his family members and close associates.