Valesky Barosy’s public life – or at least the one he claimed to run on social media – was defined by the extravagance of silk stockings: a new Lamborghini Huracán EVO, designer clothes Chanel, Gucci and Louis Vuitton, and wristwatches manufactured by Rolex and Hublot.
The 27-year-old Fort Lauderdale “entrepreneur” built his fortune through his work as an executive for a Michigan-based credit score repair and financial literacy company, Financial Education Services Inc. And by all accounts, this career was booming. In January 2020, the syndicated news feed service AccessWire even named Barosy one of the “10 best leaders to watch closely in 2020”, noting that the success of the young professional as a Haitian immigrant and youngest executive vice president of the organization is expected “to achieve more than $ 6 million in sales and beyond ”and calling it the embodiment of the“ American Dream ”.
According to a recent federal indictment, authorities were monitoring Barosy closely and indicted the once promising businessman – now the president of V Barosy Solutions – with a multitude of financial crimes, including electronic fraud, money laundering and identity theft. If he is found guilty, he risks up to 132 years in prison.
In March 2020, as businesses across the United States began to shut down following COVID-19 lockdowns, Barosy and anonymous associates reportedly submitted a handful of fraudulent loan applications – rigging company spending, net income and various IRS tax forms – to claim over $ 4.2 million from the federal government’s Paycheck Protection Program (P3). Court documents say they were ultimately awarded $ 2.1 million.
The CARES (Coronavirus Aid, Relief, and Economic Security) law came into effect on March 29, 2020 and was intended to provide emergency financial assistance to struggling US businesses to cover salaries and other business-related expenses in the form of ‘a forgivable loan of $ 349 billion. package. Congress accepted an additional $ 300 billion the following month.
Money was set aside for companies suffocating under the weight of the financial crisis brought on by the lockdowns that threatened to decimate global economies. But if the allegations made in the federal indictment are true, Barosy viewed these emergency funds as his to take.
The Fort Lauderdale resident was apparently the kind of person who liked to remind us of his wealth. In photos shared on his Instagram, Barosy showed his watches worth tens of thousands and sported prominent designer brands like Chanel and Gucci, according to the indictment. The investigation was carried out by the US Secret Service, which operates a field office in Miami.
In total, Barosy, who first appeared in a Miami federal courtroom on December 29, is charged with five counts of wire fraud, three counts of money laundering and one count of theft of identity aggravated. Court records show Barosy did not appear at his arraignment on Monday, citing “quarantine”. He is being held at the Joseph V. Conte complex in Pompano Beach.
New times attempted to reach Barosy’s attorney, Omar Antonio Lopez, by phone and email on Monday, but received no response.
As cheeky as these allegations are, Barosy is far from the first person to attempt to pull a rapid on the federal government under the alleged pretext of asking for COVID financial aid.
South Florida remains one of the most active regions in the country in investigating and prosecuting COVID-related fraud cases. In March 2021, for example, the South Florida District Attorney’s Office announced that it was suing 18 different cases of suspected COVID rescue fraud. In May, the office announced the formation of the COVID-19 Anti-Fraud Task Force, an initiative to strengthen efforts to prevent pandemic-related fraud.
“Our work has just started, and we will continue to work with our partners to hold accountable those who try to cheat South Floridians with much-needed relief money,” said Ariana Fajardo Orshan, the lawyer. American District, in a statement. a statement at the time.
One of the most notable cases is that of former NFL player and Miami native Kenbrell Armod Thompkins, who federal authorities say used the identities of other people in order to offset several rounds of unemployment insurance benefits linked to COVID.
The former New England Patriots and Oakland Raiders wide receiver pleaded guilty in October 2021 and is expected to be sentenced on January 6. He faces up to 12 years in prison.