Free-agent wide receiver Josh Bellamy was arrested and charged with wire fraud, bank fraud, and conspiracy to commit wire fraud and bank fraud after allegedly participating in a scheme to illegally receive federal Paycheck Protection Program (PPP) loans amid the COVID-19 pandemic.
Bellamy allegedly received $1.25 million in federal loans for his company, Drip Entertainment LLC. The wideout, who was released by the Jets this week, is accused of using that money for personal use, including $104,000 in purchases at luxury stores like Gucci and Dior, along with $62,774 spent at the Seminole Hard Rock Hotel and Casino.