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Ex-NY Jets Player Spent $1M Coronavirus Loan on Jewelry, Casino Hotel: Feds

Bellamy allegedly obtained a $1.2 million Paycheck Protection Program loan for his company, Drip Entertainment, then spent over $100,000 in luxury goods.

Former New York Jets player Joshua Bellamy has been charged with wire and bank fraud as part of a larger effort by the U.S Department of Justice to crack down on Paycheck Protection Program fraud. According to U.S. District Court filing, Bellamy was among a group of people who conspired together to apply for $24 million in coronavirus relief loans for small businesses, most of which were approved. Bellamy got $1.2 million in his personal bank account, which had a balance of $2.51, for his company Drip Entertainment. The Department of Justice alleges he then spent $62,774 at the Seminole Hard Rock Hotel and Casino, and a combined $104,000 at jewelry stores, Gucci and Dior. He also withdrew $302,000. Bellamy allegedly sought PPP loans for family members and close associates, too.