A man in Florida has been accused by federal prosecutors of misusing a COVID Paycheck Protection Program loan on extravagant purchases like Rolex watches and a Lamborghini, according to CBS Miami.
Valesky Barosy of Fort Lauderdale made his first appearance in federal court to face five counts of wire fraud, three counts of money laundering and one count of aggravated identity theft on Wednesday.
The 27-year-old and his accomplices are alleged to have received about $2.1 million in fraudulent loans and reportedly used that windfall of cash meant to aid business owners affected by the COVID lockdown to buy a number of luxury items.
Rolex and Hublot watches, designer clothing from Chanel, Gucci and Louis Vuitton, and a Lamborghini Huracán EVO were among the purchases Barosy is alleged to have made with COVID cash.
Authorities are looking for Barosy to pay back more than $4.2 million. He’s also facing up to 132 years in prison if convicted.
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