National Football League wide receiver Joshua Bellamy’s recent arrest for his alleged participation in a scheme to file fraudulent applications seeking more than $24 million in Paycheck Protection Program loans represented just the latest example of a professional athlete being linked to securities fraud or other financial offenses.
One of the most infamous cases in recent years was the fall from grace of ex-Major League Baseball great Lenny Dykstra, who went from a World Series champion on the 1986 New York Mets to pleading guilty in 2012 to bankruptcy fraud, concealment of assets and money laundering.
Dykstra, who was known by the nickname “Nails” during his baseball career, remade himself as a financial advisor before being arrested multiple times after his retirement from baseball, including in 2011 for the charges he ended up pleading guilty to one year later.
On the other side of the coin, many athletes have been victimized in financial scams.
Check out the gallery above for nine cases of pro athletes being linked to securities fraud and other financial misdeeds in the past five years.
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