Lee Price III, 29, was sentenced to much than 9 years successful situation for fraudulently obtaining astir $1.6 cardinal successful COVID-19 alleviation funds and past spending it connected a Lamborghini and portion clubs. (KPRC)

HOUSTON – The Houston antheral accused of going connected a buying spree aft receiving much than $1.6 cardinal from the Small Business Association’s Paycheck Protection Program has been sentenced to 110 months successful prison, the U.S. Justice Department announced Monday.

According to tribunal documents, 30-year-old Lee Price III pleaded blameworthy successful September to charges of ligament fraud and wealth laundering, submitting fraudulent PPP indebtedness applications to 2 antithetic lenders connected behalf of 3 businesses: 713 Construction LLC, Price Enterprises Holdings LLC, and Price Logistic Services LLC.

Through these indebtedness applications, Price sought implicit $2.6 cardinal and really obtained implicit $1.6 cardinal successful PPP indebtedness funds. Court documents said Price falsely reported the fig of employees and payroll expenses successful each of the PPP indebtedness applications.

According to the authoritative transgression ailment against Price, helium started spending that PPP wealth astir instantly connected incredibly lavish items, including a $233,000 Lamborghini Urus, an $85,000 Ford F-350 pickup motortruck and a $14,000 Rolex.

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Prosecutors accidental helium besides spent thousands of dollars astatine Houston nightclubs and portion clubs, and much than $100,000 to lease bureau abstraction successful Memorial City.

The Department of Justice, on with instrumentality enforcement partners, seized implicit $700,000 of the funds Price fraudulently obtained, tribunal documents said.

On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice successful concern with agencies crossed the authorities to heighten efforts to combat and forestall pandemic-related fraud.

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