An American man based in Florida has been accused of fraudulently obtaining millions of dollars through the Paycheck Protection Program and using them to buy a Lamborghini and many other luxury items and designer clothing.
The U.S. Department of Justice said here that 27-year-old Valesky Barosy applied for more than $4.2 million in PPP loans by submitting an application with false IRS tax forms, and fake paperwork detailing expenses and payroll. He eventually received $2.1 million, but then spent it on a Lamborghini Huracán EVO, Rolex and Hublot watches, and clothing from Louis Vuitton, Gucci, and Chanel.
He appeared in court yesterday and has been charged with five counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft. If convicted, he faces up to 132 years in prison.