A Florida man has been sentenced to six years and two months in federal prison and ordered to pay more than $2.1 million after fraudulently submitting COVID-19 relief loans under the Paycheck Protection Program (PPP).
Valesky Barosy, 27, was sentenced in Fort Lauderdale federal court, according to court records.
He was convicted by a jury on five counts of wire fraud, three counts of money laundering, and aggravated identity theft in December.
According to prosecutors, Barosy submitted dozens of fraudulent PPP loan applications on behalf of himself and his accomplices, seeking more than $4.2 million in loans and successfully obtaining more than $2 million.
The COVID-19 pandemic-era PPP program granted American businesses billions of dollars in forgivable small-business loans to help them stay afloat amid lockdowns, enabling them to pay employees, rent, and utilities, among other things….