FORT LAUDERDALE, Fla. – A Fort Lauderdale man made his first appearance in federal court Wednesday on accusations that he purchased a Lamborghini, Rolex and other luxury goods with money that he fraudulently obtained through the Paycheck Protection Program.
Valesky Barosy, 27, is charged with five counts of wire fraud, three counts of money laundering and one count of aggravated identity theft.
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According to federal prosecutors, Barosy submitted fraudulent loan applications on behalf of himself and his accomplices, seeking more than $4.2 million in PPP loans.
“In each loan application, Barosy falsified the applicant’s prior-year expenses, net profit, and payroll, and submitted fraudulent IRS tax forms,” a news release from the U.S. State Attorney’s Office for the Southern District of Florida stated.
According to the indictment, Barosy and his accomplices received about $2.1 million in PPP loans.
Prosecutors said Barosy used that money to purchase a Lamborghini Huracán EVO, Rolex and Hublot watches, and designer clothing from Louis Vuitton, Gucci and Chanel.
If convicted, Barosy faces up to 132 years in prison.