Federal prosecutors say a South Florida man used COVID-19 relief money to buy millions of dollars in luxury items such as a Lamborghini and Rolex watches, CBS Miami reports.
The station says Valesky Barosy, 27, of Fort Lauderdale, is charged with fraudulently obtaining COVID-19 relief loans under the Paycheck Protection Program.
He made his first appearance in federal court in Fort Lauderdale on Wednesday.
Barosy is accused of submitting fraudulent loan applications on behalf of himself and accomplices seeking more than $4.2 million in PPP money.
According to the charges, Barosy and his accomplices received approximately $2.1 million in loans from the fraud.
It’s alleged that Barosy used the ill-gotten gains to purchase a Lamborghini Huracán EVO, Rolex and Hublot watches, and designer clothing from Louis Vuitton, Gucci, and Chanel.
An indictment charges Barosy with five counts of wire fraud, three counts of money laundering, and one count of aggravated identity theft.
If convicted, Barosy faces up to 132 years in prison.