If you are going to be a scammer, you can’t ball so hard with your scam money.
You have to lay low, maybe for several years. The only way these people are getting caught is when they head to the casino or buy a lot of luxury items as soon as they get the money.
If you are getting a business loan, buy some printers or something to throw them off the scent.
I do think these sentences are too much for white-collar crimes when people who stormed the Capitol are getting less time for trying to overthrow the government.
Here are the details.
A former National Football League (NFL) player was sentenced today to 37 months in federal prison for fraudulently obtaining over $1.2 million through a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
According to court documents, Joshua J. Bellamy, 32, of St. Petersburg, Florida, a former NFL player, pleaded guilty on June 9 in the Southern District of Florida to conspiracy to commit wire fraud. As part of the fraud scheme, Bellamy obtained a PPP loan of $1,246,565 for his company, Drip Entertainment LLC, using falsified documents and false information. Bellamy admitted to using the PPP loan proceeds on personal items, such as jewelry, and a stay at the Seminole Hard Rock Hotel and Casino. Bellamy also sought PPP loans on behalf of his family members and close associates. Bellamy further admitted that he paid more than $311,000 to an alleged co-conspirator, James Stote, as a kickback for his assistance in preparing and submitting the fraudulent loan application. In addition to his prison sentence, Bellamy was ordered to serve three years of supervised released and pay $1,246,565 in restitution and $1,246,565 in forfeiture.
As soon as the Feds saw “Drip Entertainment,” it was a wrap for Bellamy.
Flip the page for more of his scam.