Miami man, Valesky Barosy, who bought Lamborghini with his PPP loan found has been guilty of 9 counts of wire fraud, money laundering and aggravated identity theft KossyDerrickBlog KossyDerrickEnt


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Wednesday, December 28, 2022

Miami man, Valesky Barosy, who bought Lamborghini with his PPP loan found has been guilty of 9 counts of wire fraud, money laundering and aggravated identity theft

Information reaching Kossyderrickent has it that Miami man who bought Lamborghini with his PPP loan found has been guilty of 9 counts of wire fraud, money laundering and aggravated identity theft. 

He now faces up to 20 years in prison or more after turning down plea deal. With a Lamborghini as his ride, Valesky Barosy was living large thanks to federal funds he was accused of stealing from a COVID-19 relief program for struggling businesses.

But unlike dozens of others who’ve been charged with fleecing millions from the government’s pandemic program, the 28-year-old Miami man went to trial instead of striking a plea deal to cut his losses.

On Monday, a federal jury quickly found Barosy guilty of nine counts of wire fraud, money laundering and aggravated identity theft. He now faces 20 years or more in prison at his sentencing on Feb. 23 before U.S. District Judge Rodney Smith in Fort Lauderdale federal court.

Barosy was not shy about showing off his exploits while ripping off the Small Business Administration’s Paycheck Protection Program, posting social media shots of himself driving an exotic Lamborghini and flying on a private jet. He boasted an Instagram account with over 110,000 followers.

He touted himself as an immigrant success story, arriving from Haiti a decade ago, working his way up from a menial job at Walmart to “regional vice president” of a credit repair company that purportedly racked up “$3.6 million in sales,” according to court records. The Paycheck Protection Program was approved by Congress in 2020 to help businesses decimated following shutdowns caused by the rapid spread of the coronavirus. The program allowed for the loans to be forgiven, if borrowers followed criteria laid out by the Small Business Administration.

As the nation’s No. 1 fraud capital, South Florida has led the financial crime wave that followed the passage of the CARES Act, according to the U.S. Attorney’s Office.

In South Florida, that’s included a businessman using PPP money to buy a $318,000 Lamborghini, a nurse alleged to have lied about his business to get $474,000 that was used in part to pay a Mercedes-Benz lease and child support, and a North Miami suburban couple that claimed to be farmers to qualify for $1 million in relief benefits.

Around the same time that Barosy was arrested last December, two Florida men pleaded guilty to helping arrange over $35 million in PPP loans. The ring also netted the conviction of former NFL player Joshua Bellamy, who was sentenced to more than three years in prison for wire-fraud conspiracy.

The United States government agreed to release him last Friday; however, due to county and State jail COVID protocols they were going to hold him for up to 14 days without proper cause; however, after appealing the decision, the Judge released Mr. Barosy.”

A Florida man has been accused of misusing millions of dollars in coronavirus relief funding. According to the Department of Justice, Valesky Barosy and his accomplices allegedly received $2.1 million in loans and are accused of misusing the funds on luxury goods. He made his first court appearance on Wednesday (Dec. 29) on the federal charges of five counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft.

The 27-year-old allegedly submitted fraudulent loan applications on behalf of himself and accomplices, aiming to gain more than $4.2 million in Paycheck Protection Program (PPP) loans. The paperwork was submitted with false information on the applicant’s prior-year expenses, net profit, and payroll, as well as fraudulent IRS tax forms. Barosy was able to obtain over $2 million which was allegedly spent on Lamborghini Hurac├ín EVO, Rolex and Hublot watches, and designer clothing from Louis Vuitton, Gucci, and Chanel.

His online biography on the social media account described Barosy as a “7 Figure Entrepreneur,” “NFT Creator, Marketing, e-commerce.” A press release issued in June 2019 shared the story of a Haitian immigrant who became an entrepreneur and “went from Walmart to disrupting the multi-million dollar credit repair industry.”

USSS Miami investigated the case and Assistant U.S. Attorney Jonathan Bailyn is prosecuting the case. Assistant United States Attorney Nicole Grosnoff is handling asset forfeiture. If convicted, Barosy faces up to 132 years in prison.

R&B singer Baby Blue of the Miami group Pretty Ricky was recently sentenced on similar charges after allegedly obtaining roughly $24 million in loans under false pretenses. Legal name Diamond Blue Smith, the 36-year-old admitted that he lied on the application to obtain PPP funding. He was ordered to serve 20 months in prison on charges including conspiracy to commit wire fraud.

In September, Love And Hip Hop: Atlanta star Maurice “Mo” Fayne was also handed more than 17 years in federal prison for conspiracy and wire fraud related to a Ponzi scheme involving a PPP loan scam.

A report from the New York Times found more than 15% of loan recipients or $76 billion in funds were granted to potentially fraudulent applications.

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