Florida man bought Lamborghini, Rolex, and designer clothes as part of COVID relief fraud program, federal government says

FORT LAUDERDALE, Florida –A man in South Florida tried to secure more than $ 4.2 million in COVID-19 relief funds by filing bogus loan applications, federal prosecutors have said.

Valesky Barosy, 27, made his first appearance last week in federal court in Fort Lauderdale, court records show. He is charged with five counts of wire fraud, three counts of money laundering and one count of aggravated identity theft. If convicted, Barosy faces up to 132 years in prison.

According to an indictment, Barosy submitted fraudulent loan applications on behalf of himself and his accomplices, soliciting more than $ 4.2 million in loans from the Paycheck Protection Program. Barosy falsified the plaintiff’s previous year’s expenses, net income and payroll, and submitted fraudulent tax forms to the IRS, prosecutors said.

Barosy and his accomplices received around $ 2.1 million in loans from the fraudulent scheme, investigators said. He used the money to buy a Lamborghini Huracán EVO, Rolex and Hublot watches, and designer clothes from Louis Vuitton, Gucci and Chanel, officials said.

A d

Barosy’s attorneys did not immediately respond to messages seeking comment on the Associated Press charges.

The Paycheque Protection Program represents billions of dollars in repayable small business loans for Americans struggling due to the COVID-19 pandemic. It’s part of the coronavirus relief program that became federal law in 2020.

___

Track AP coverage of the pandemic at https://apnews.com/UnderstandingtheOutbreak.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


Source link

About the author