The coronavirus pandemic continues to wreak havoc across the world, negatively affecting businesses, government revenues and individuals. As a result, some governments across the globe have implemented programs to reduce the impact of the virus on individuals and businesses.
In the U.S., the government implemented the COVID-19 relief loans under the Paycheck Protection Program (PPP) and dispensed several amounts to citizens. However, while the virus and its new variant like the Omicron are causing trouble in the U.S., some are using it as an opportunity to scam the government.
A Florida man, Valesky Barosy, has been accused by federal prosecutors of using COVID-19 relief money to buy millions of dollars in luxury items such as a Lamborghini and Rolex watches. According to the allegations in the indictment, he 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 each applicant’s prior-year expenses, net profit, and payroll and submitted fraudulent IRS tax forms, says the indictment.
The indictment further noted that Barosy and his accomplices received approximately $2.1 million in PPP loans from the fraudulent scheme and used the proceeds to purchase a Lamborghini Huracán EVO, Rolex and Hublot watches, and designer clothing from Louis Vuitton, Gucci, and Chanel.
“Collectively, Hines falsely claimed his companies paid…