Texas man Lee Price jailed for spending COVID-19 loans on Lamborghini, strip clubs
American Politics, COVID-19, Headlines, Health Wednesday, August 5th, 2020By Agency Reporter
Instead of speeding off in a $200,000 Lamborghini Urus, a Texas man, Lee Price III got a slower ride to jail on Tuesday.
This was after US authorities arrested him for using $1.6 million in government pandemic aid to go on a spending spree.
Lee Price III, 29, was charged with fraud after he secured two government loans under the Paycheck Protection Program to pay employees he did not have, the Justice Department said in a statement.
Instead he spent the funds on lavish goods like a sports car and a Rolex watch, as well as real estate, an F-350 pickup truck, and thousands of dollars at Houston strip clubs, the statement said.
Price secured two loans: Price Enterprises Holdings allegedly received more than $900,000, while 713 Construction was approved for over $700,000.
Neither firms has employees and “the individual listed as CEO on the 713 Construction loan application died in April 2020, a month before the application was submitted,” according to the complaint.
Congress approved the PPP program in late March to help small businesses survive the coronavirus pandemic, granting loans that could be forgiven if they were used to pay wages, rent and utilities.
-PM News
|
|
wp_posts
Related Posts
- Suspended RCCG Pastor, Iluyomade, starts new ministry, opens new church in Lagosy
- How I paid $10,000 to avoid performing ritual to become Governor of Bayelsa State, Douye Diri
- Ex-Delta first lady, Edna Ibru, dies in London
- UK-based Nigerian mother cries for help after Social Services take kids away, husband arrested
- Omosexy dispels rumour she fled to Nigeria
Short URL: https://newnigerianpolitics.com/?p=56969
Posted by 
