Inspiring Fraudster

Close-up Of A Businessperson's Hand Giving Cheque To Colleague At Workplace

On Instagram, Valesky Barosy posed often with the white Lamborghini, pitching himself as an inspiring mentor. “It’s not the Lamborghini or the million dollar home that will inspire the world but the trials and tribulations you overcame,” Barosy, who was born in Haiti and immigrated to South Florida as a teen, wrote in one post. Didn’t anyone tell Barosy to be careful what you say on social media? Because it is there forever. And the COVID-19 Fraud Enforcement Task Force team didn’t need to read between the lines to see that Barosy was fleecing taxpayers.

On March 2, 2023, Barosy was sentenced to six years in prison for COVID-19 Payment Protection Program fraud. Barosy submitted dozens of fraudulent PPP loan applications on behalf of himself and his accomplices that sought more than $4.2 million in loans. In each loan application, Barosy falsified the applicant’s prior year expenses, net profit or payroll, and submitted fraudulent Internal Revenue Service tax forms. For each loan application, Barosy’s accomplices paid him a 20 to 30 percent kickback.

Barosy successfully obtained more than $2 million funds that he used to purchase a Lamborghini Huracán EVO, Rolex and Hublot watches, and designer clothing from Louis Vuitton, Gucci, and Chanel. Barosy actually showed off his exploits while stealing from the SBA’s Paycheck Protection Program. Posting photos on his Instagram account of the Lamborghini and watches, detailing his success as an entrepreneur to his 110,000 followers. But his greatest success, according to one text message, was his ability to “max out ppp.  I do them very good,” he boasted. Not the first social media post that tells a lie and definitely not the first fraudster to tell a lie!

Great job by COVID-19 Fraud Enforcement Task Force in bringing this fraudster to justice.

Today’s Fraud Of The Day is based on article “Florida Man Gets 6 Years for PPP Fraud” published by the Miami Herald on March 2, 2023

A Broward County, Florida, man convicted of buying a Lamborghini and other luxury goods with $2 million in U.S. government loans meant for struggling businesses during the pandemic was sentenced Wednesday to six years in prison and ordered to pay back the money.

Valesky Barosy, 28, who dropped out of high school and became president of a company known as VBarosySolutions Inc., was found guilty in December of wire fraud, money laundering and identity theft by a Fort Lauderdale federal jury in a rare COVID-19 loan scheme case that went to trial.

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Larry Benson, Senior Director of Strategic Alliances, LexisNexis Risk Solutions - Government

Larry Benson is responsible for developing strategic partnerships and solutions for the government vertical. His expertise focuses on how government programs are defrauded by criminal groups, and the approaches necessary to prevent them from succeeding.

Mr. Benson has 30 years of experience in sales and business development. Before joining LexisNexis® Risk Solutions, he spent 12 years founding and managing two software technology startups. During the 1990s he spent 10 years as a Regional Director helping to grow a New England-based technology company from 300 employees to 7,000. He started his career with Martin Marietta Aerospace working on laser guided weapons and day/night vision systems.

A sought-after speaker and accomplished writer, Mr. Benson is the principal author of “Fraud of the Day,” a website dedicated to educating government officials about how criminals are defrauding government programs. He has co-authored WTF? Where’s the Fraud? How to Unmask and Stop Identity Fraud’s Drain on Our Government, and Data Personified, How Fraud is Changing the Meaning of Identity.

Benson holds a Bachelor of Science in Physics from Albright College, and earned two graduate degrees – a Master of Business Administration from Florida Institute of Technology, and a Master of Science in Engineering from Lehigh University.