A South Florida man was sentenced to six years and two months in federal prison after $4.2 million in COVID-19 relief fraud schemes.
Fox News reports Valesky Barosy, 28, was sentenced on Wednesday in Fort Lauderdale federal court. Barosy tried to obtain over $4.2 million in COVID relief funds by filing fake loan applications.
According to an indictment, he submitted fake loan applications for himself and his accomplices in Paycheck Protection Program loans. Prosecutors said Barosy submitted fraudulent IRS tax forms and falsified the applicant’s prior-year expenses, including the net profit and payroll.
Barosy and his accomplices received over $2.1 million in loans from the fraud scheme. Investigators said Barosy’s accomplices paid him a 20 to 30% kickback that he used to purchase Rolex, designer clothes from Chanel, Gucci, and Louis Vuitton, and Lamborghini Huracan EVO.
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Valesky Barosy, who claimed to be a self-made entrepreneur, was convicted of identity theft, money laundering, and wire fraud. (Photo: Valesky Barosy Instagram)
Investigators discovered the evidence on Barosy’s computer, text messages from prospective clients, and the photos he posted on his Instagram account.
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Barosy was convicted in December of one count of aggravated identity theft, three counts of money laundering, and five counts of wire fraud. He would face over six years of prison and must repay more than $2.1 million for the money he received from the Paycheck Protection Program.
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