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For: The Opinion
Friday, November 8
Man faces trial for fraud using pandemic aid money to buy luxury clothing and a Lamborghini
Valesky Barosy, by 27 years, who used aid money for entrepreneurs affected by the pandemic in the United States to wear Louis Vuitton, Gucci and Chane garments and in addition to buying a Lamborghini, he appeared this Wednesday in a Florida court that accuses him of several charges of fraud, the Prosecutor’s Office reported this Wednesday.
According to the authorities, he used a loan from the Payroll Protection Program (PPP) to buy luxury items, which also included Rolex watches.
Barosy faces five counts of wire fraud, three of money laundering and one of aggravated identity theft, according to a statement from the South Florida Attorney General’s Office.
The defendant submitted fraudulent loan applications on his behalf and on behalf of his accomplices, seeking more than $ 4, 200, 000 of dollars of PPP loans, which are intended to help entrepreneurs affected by the pandemic.
“In each loan application, Barosy falsified previous year’s expenses, net earnings, and applicant’s payroll , and submitted forms of Fraudulent taxes to the Internal Revenue Service (IRS, in English) “, indicated the Prosecutor’s Office.
According to the accusation, Barosy and his accomplices received around of $ 2, 100, 000 dollars in federal loans.
Prosecutors said Barosy used that money to buy a Lamborghini Huracán EVO, Rolex and Hublot watches and designer clothes from Louis Vuitton, Gucci and Chanel.
If convicted, Barosy would face up to 132 years in prison.
PPP is a COVID relief program – 19 that provides forgivable loans to small businesses to allow them to pay employees even if businesses are closed.
Administered by the Federal Development Agency Small Business Administration (SBA), is a loan program derived from the Coronavirus Relief, Relief and Economic Security Act (CARES).
The goal of the PPP is to help businesses maintain their hired workforce during the pandemic by providing businesses with eight weeks of cash flow assistance through federal loans 100% guaranteed.
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