Texas man Lee Price III who used COVID relief funds to buy Lamborghini sentenced to prison
On Monday, a Texas man was sentenced for fraud to COVID-19 relief money that he used to purchase a Lamborghini.
Lee Price III (30), pleaded guilty September to wire fraud, money laundering and other charges. The Department of Justice stated that he falsified his application for PPP loan funds, which amounted to $1.6 million.
Price applied for the papers using the name of someone who had died before they were filed, according to court documents.
He also falsified the payroll expense and number of employees at the three businesses he claimed to own, as per court records.
The DOJ stated that Price took some of the illegal gains and bought a Lamborghini Urus as well as a Ford F-350 truck, Rolex watches, and a Lamborghini Urus.
DOJ stated that authorities had recovered $700,000.
