The complaint states that Bellamy, along with 10 other defendants, allegedly applied for paycheck protection program (PPP) loans for a total of more than $ 24 million through at least 90 fraudulent applications. According to a Justice Department release, several of those applications were approved, paying at least $ 17.4 million.
For example, the Justice Department alleges that the 31-year-old former NFL player obtained a $ 1.2 million PPP loan for his company, Drip Entertainment LLC, but used the money on luxury items and casino trips.
According to the release, Belmai allegedly bought more than $ 104,000 in PPP loan proceeds in luxury goods from Dior, Gucci and various jewelers. He reportedly also spent about $ 62,774 in loans at the Seminole Hard Rock Hotel and Casino. Bellamy allegedly withdrew more than $ 302,000 in cash.
In addition, Bellamy allegedly sought PPP loans on behalf of family members and close associates, the release said.
Bellamy was charged with wire fraud, bank fraud and conspiracy to commit wire fraud and bank fraud in the Southern District of Florida.
Diego Wenner, a Bellamy lawyer, told CNBC Mech that it is still “too early” in the case and that Bellamy is “a good and decent man, who is considered innocent by our laws.”
“We hope the public will give them the benefit of the doubt at this time. All too often, professional athletes are taken advantage of by people who are acting on their behalf as agents or consultants. We will all know more as the case . Goes ahead, “said Weiner.
Bellamy received an inability by the New York Jets to release the list following a shoulder injury on Tuesday. According to ESPN, the Jets were unaware of his arrest at the time of release, a source said.
Bellamy played seven seasons in the NFL. Last year, he signed a two-year, $ 5 million contract with the Jets.
The story has been updated to include a statement from Bellamy’s attorney Diego Wenner.
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