Christmas came early for a self-professed “Haitian entrepreneur” who fleeced the government’s pandemic relief PPP program to enrich himself.
Prosecutors accused Valesky Barosy of fraudulently obtaining loans from the federal Payroll Protection Program to buy a Lamborghini, a Rolex watch, designer clothing, and other luxury items
Barosy, 27, flaunted his ill-gotten gains on his deleted Instagram page where he amassed over 10,000 followers.
In one photo, Barosy, of Ft. Lauderdale, posed outside a private jet. In another photo, he is seen exiting his white Lamborghini.
The Haitian-born businessman sought publicity as a self-made millionaire and immigrant success story.
After arriving from Haiti a decade ago, Barosy worked his way up from an employee at Walmart to “regional Vice President” of his credit repair company that earned over $3.6 million in sales.
However, federal authorities say Barosy and his accomplices fraudulently applied for $4.2 million in PPP loans using false information.
In each loan application, Barosy allegedly submitted IRS tax returns that falsely inflated prior-year expenses, net profit, and payroll.
Barosy and his accomplices received approximately $2.1 million in PPP loans, according to the U.S. Attorney’s Office for the Southern District of Florida.
Federal agents raided Barosy’s home and business and seized a Lamborghini Huracán, valued at over $150,000, Rolex and Hublot watches, and designer clothing from Louis Vuitton, Gucci and Chanel.
A federal grand jury indicted Barosy on charges of wire fraud, money laundering and aggravated identity theft.
Barosy is being held in a federal detention facility without bond. He faces up to 132 years in prison if convicted on all charges.
According to the federal government, over $1 billion in Covid relief funds have been stolen from the PPP program.
Florida is the nation’s No. 1 fraud capital, with over $340 million in stolen funds going to that state alone.