Anish Vij
A man from South Florida faces up to 132 years in prison after he was found guilty of Covid-19 relief fraud.
Valesky Barosy, who pretended to be a 'successful entrepreneur', has been convicted of for fraudulent submission of COVID-19 relief loans under the Paycheck Protection Program (PPP), the Department of Justice (DOJ) have confirmed.
PPP was approved by Congress in 2020 to help stop businesses from being shutdown as a result of the pandemic.
In each loan application, Barosy lied about the applicant’s prior year expenses, net profit or payroll, and submitted fraudulent Internal Revenue Service tax forms.
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The 27-year-old was found guilty on 12 December of nine accounts of wire fraud, money laundering and aggravated identity theft.
The Miami man would show off his lavish purchases on Instagram, which included a Lamborghini Huracán EVO, Rolex and Hublot watches, designer clothing from Louis Vuitton, Gucci, and Chanel.
“It’s not the Lamborghini or the million dollar home that will inspire the world but the trials and tribulations you overcame,” he wrote in one post.
A DOJ statement reads: "Barosy submitted dozens of fraudulent PPP loan applications on behalf of himself and his accomplices that sought more than $4.2 million and successfully obtained more than $2 million."
The court found that Barosy falsified the applicant’s prior year expenses, net profit or payroll, along with submitting fraudulent Internal Revenue Service tax forms.
His fraudulent loan applications and tax documents were found on his computer along with text messages soliciting information from potential clients.
For each loan application, Barosy’s accomplices paid him a 20 to 30 percent kickback that he used to purchase a Lamborghini Huracán EVO, Rolex and Hublot watches, and designer clothing from Louis Vuitton, Gucci, and Chanel.
The DOJ statement said: "Barosy posted photos on his Instagram account of the Lamborghini and watches, detailing his success as an entrepreneur.
"But his greatest success, according to one text message, was his ability to 'max out ppp. I do them very good', he boasted.
"Barosy was convicted by a jury on five counts of wire fraud, three counts of money laundering, and aggravated identity theft."
He's now set to be sentenced on February 23, 2023.