Valesky Barosy, 27 (pictured) was charged with five counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft
Federal prosecutors have accused a 27-year-old Haitian immigrant of fraud after he used ill-gotten COVID relief money to buy millions in luxury items such as a Lamborghini Huracán EVO, designer suits and watches from Rolex and Hublot.
Valesky Barosy, 27, sought out more than $4.2 million in Paycheck Protection Program loans, falsifying his prior-year expenses, net profit, payroll and IRS tax forms in each application, according to the Department of Justice.
He was paid out approximately $2.1 million.
On December 29, Barosy made his first appearance in federal magistrate court to face five counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft.
If he is convicted, he could face a prison sentence of up to 132 years.
Valesky Barosy, 27, flaunted his ill-gotten wealth on social media. He was fraudulently paid out $2.1 million in Paycheck Protection Program loans, according to the Department of Justice
On social media, Barosy draped himself in Louis Vuitton, Gucci and Chanel, branding himself as a success story with captions like ‘from homeless to high-rise sky-high view,’ and ‘you don’t have to be great to get started, get started to be great’
On social media, Barosy draped himself in Louis Vuitton, Gucci and Chanel, branding himself as a success story with captions like ‘from homeless to high-rise sky-high view,’ and ‘you don’t have to be great to get started, get started to be great.’
He claimed that when he moved to the U.S. four years ago, he couldn’t afford shirts from Walmart, where he was employed as a stocker.
He became the president of a company known as VBarosySolutions Inc., or VBS, according to the federal indictment, which he said helped its customers fix poor credit scores.
‘4 years ago I was broke, busted and disgusted,’ he wrote in one post. ‘I couldn’t even afford to put gas in my car or even buy dollar menu at McDonald’s.’
‘I remember getting cursed by a cashier at McDonalds just because I didn’t have the extra 50 cents for a sweet and sour sauce. And today, because of hard work and determination, we are featured on top publications like ABC, FOX etc.’
Barosy’s nebulous online biographies tout the fraudster as a ‘7 Figure Entrepreneur,’ an ‘NFT Creator’ and an expert in ‘marketing and e-commerce’
One of Barosy’s self-published ‘press releases’ was entitled ‘How This Haitian Entrepreneur Went From Walmart To Disrupting The Multi-Million Dollar Credit Repair Industry’
His nebulous online biographies tout the fraudster as a ‘7 Figure Entrepreneur,’ an ‘NFT Creator’ and an expert in ‘marketing and e-commerce.’
One of the ‘press release’ he produced was entitled ‘How This Haitian Entrepreneur Went From Walmart To Disrupting The Multi-Million Dollar Credit Repair Industry.’
Barosy boasted about being involved with Financial Education Services Inc., a company that Georgia’s attorney general described as an ‘illegal credit repair business’ that uses ‘unlawful and deceptive practices in their multi-level marketing structure,’ according to the Miami Herald.
That company paid a $1.75 million fine to the state of Georgia for its practices before changing its name to United Wealth Education.
Since the federal Coronavirus Aid, Relief and Economic Security (CARES) Act was enacted on March 29, 2020, a slurry of fraudsters abused the financial assistance provided by the PPP.
Nearly $100 billion has been stolen from COVID-19 relief programs set up to help businesses and people who lost their jobs due to the pandemic, the US Secret Service said, based on data from the Labor Department and the Small Business Administration.
Barosy, pictured, could face a 132 year prison sentence if he is convicted
South Florida, the nation’s leading fraud capital, led the financial crime wave, the Miami Herald reported.
Those deceptions included a businessman buying a $318,000 Lamborghini with PPP money, a nurse who lied about their business to buy a Mercedes-Benz lease and child support with his $474,000 payout and a North Miami couple who claimed to be farmers to filch $1 million in benefits.
The COVID-19 Fraud Enforcement Task Force was established on May 17, 2021 in an attempt to reel in relief-fund fraud.