With a Lamborghini for his ride, Valesky Barosy lived big thanks to federal funds he was accused of stealing from a COVID-19 aid program for struggling businesses.
But unlike dozens of others who have been accused of nicking millions from the government’s pandemic program, the 28-year-old from Miami went to court instead of taking 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 when sentencing Feb. 23 before U.S. District Judge Rodney Smith in Fort Lauderdale Federal Court.
Barosy wasn’t shy about showing off his exploits as he scammed the Small Business Administration’s Paycheck Protection Program, posting photos on social media of himself driving an exotic Lamborghini and flying in a private jet. He boasted an Instagram account with more than 110,000 followers.
Touting himself as an immigrant success story, he came from Haiti a decade ago and worked his way up from a menial job at Walmart to “regional vice president” of a credit repair company reported to have made “$3.6 million in sales,” according to court documents.
But in reality, federal authorities say, Barosy ripped off taxpayers by fraudulently securing $2.1 million in loans from the PPP system to buy classic Miami status symbols: a Lamborghini Huracán EVO, Rolex and Hublot watches and designer clothing from Louis Vuitton, Gucci and Chanel.
The Paycheck Protection Program was approved by Congress in 2020 to help businesses decimated following closures due to the rapid spread of the coronavirus. The program allowed the loans to be forgiven if borrowers followed criteria set by the Small Business Administration.
As the nation’s largest fraud capital, South Florida led the wave of financial crime that followed the enactment of the CARES Act, according to the US Attorney’s Office.
In South Florida, that included a businessman who used PPP money to buy a $318,000 Lamborghini, a nurse who allegedly lied about his company to get $474,000 that was used in part to pay a Mercedes-Benz lease and child support, and a suburban North Miami couple who claimed to be farmers, to be eligible for $1 million in assistance benefits.
Around the same time Barosy was arrested last December, two Florida men pleaded guilty to helping arrange more than $35 million in PPP loans. The ring also yielded the conviction of former NFL player Joshua Bellamy, who was sentenced to more than three years in prison for conspiracy to commit fraud.
According to an indictment, Barosy was the president of a company known as VBarosySolutions Inc. or VBS.
For several loans, Barosy fabricated prior years’ expenses, net income and payroll, and filed fake IRS tax forms to secure the payments, which were then used to buy the Lambo, the watches and the clothing, according to the indictment.
On Instagram he often posed with the white Lambo, putting himself on the map as an inspiring mentor. “It is not the Lamborghini or the million dollar house that will inspire the world, but the trials and tribulations you have overcome,” he wrote in a post.
Miami Herald staff writer David Ovalle contributed to this story.
