In the Southern District of Florida, the Department of Justice has charged 27-year-old Valesky Barosy with fraudulently acquiring COVID-19 relief loans under the Paycheck Protection Program. Barosy appeared in federal court in Fort Lauderdale last week on Wednesday. The Fort Lauderdale man has been accused of applying for more than $4.2 million in PPP loans for himself and his accomplices.
According to legal paperwork filed, it is alleged that Barosy, along with his accomplices, received approximately $2.1 million in PPP loans from the fraudulent scheme. He then used the illegally obtained funds to purchase a Lamborghini Huracán EVO, Rolex, Hublot watches, and clothing from fashion designers Louis Vuitton, Gucci, and Chanel.
Barosy was arrested and charged with five counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft. Based on those charges, Barosy could face up to 132 years in prison if found guilty. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
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SOURCE: Black Enterprise, Cedric ‘BIG CED’ Thornton