Houston man who scammed $1.6M in COVID relief funds and spent it on $200,000 Lamborghini, Ford F-350 pickup truck, Rolex watch and strip clubs gets nine years in prison
Houston man Lee Price III, 30, has been sentenced to nine years in prison after he scammed $1.6 million in COVID relief funds Price had spent the relief fund money on luxury items such as a Lamborghini, a Ford F-350 pickup truck, a Rolex watch and even at strip clubs He had applied for a $2.6 million loan with the Paycheck Protection Program and falsely claimed the number of employees he had in addition to their payroll taxes He pleaded guilty to charges of wire fraud and money laundering in September Federal authorities have since seized $700,000 worth of Price's money and expensive goods By Tommy Taylor For Dailymail.Com
Published: 03:07 GMT, 1 December 2021 | Updated: 03:07 GMT, 1 December 2021
A Houston man who scammed $1.6 million in COVID relief funds and blew it on a Lamborghini and strippers was sentenced to nine years in prison on Monday.
Lee Price III, 30, had spent the money from the relief fund on luxury items such as a Lamborghini, a Ford F-350 pickup truck, a Rolex watch and even at a strip club.
Price had pleaded guilty to charges of wire fraud and money laundering in September after he applied for loans with the Paycheck Protection Program (PPP).
Federal authorities have since seized $700,000 worth of Price's money and expensive goods.
'Mr. Price hopes that others will learn from his reckoning that there is no easy money,' Price's attorney Tom Berg said in an email to the Washington Post.
'He has the balance of the 110-month sentence to reflect, repent and rebuild his misspent life.'
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