Man Goes to Prison After Squandering COVID-19 Relief Funds

Man Goes to Prison After Squandering COVID-19 Relief Funds

( – Some Americans dream of rolling down a street in a Lamborghini while sporting a Rolex watch to show off their success. Yet, one Texas resident who achieved this turned out to be a total fraud. An investigation revealed the Houston man defrauded the federal government of over $1.5 million in coronavirus relief money in 2020, which he squandered on elaborate products and excursions.

On Monday, November 29, the Justice Department (DOJ) announced a court sentenced 30-year old Lee Price III to nine years in prison for money laundering, wire fraud, and fraudulent Paycheck Protection Program (PPP) loan applications. The Small Business Association provided Price with over $1.6 million in assistance in 2020 when he submitted loan applications, including false employees and payroll expenses from 3 made-up companies.

After receiving the loans, Price bought a $14,000 Rolex watch, a $233,000 Lamborghini Urus, and an $85,000 Ford pickup truck while spending more money at Houston strip clubs.

KPRC 2 Houston shared more about the Texas criminal:

The DOJ already confiscated $700,000 of Price’s illegally procured funds and will continue to pursue similar cases around the country. It’s notable that this criminal and countless others stole taxpayer dollars during a pandemic when so many other Americans needed that money.

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