Lee Price III Wiki – Lee Price III Biography
Lee Price III is a Texas man who was sentenced to over nine years in prison on Monday for fraudulently obtaining COVID-19 relief funds that he used to purchase a Lamborghini and other expenses.
Price, who pleaded guilty in September to wire fraud and money laundering charges, received $1.6 million in PPP loan funds by falsifying his applications, the Department of Justice said, citing court documents.
He is 30 years old.
Lee Price III Used COVID Relief Funds to Buy Lamborghini
On the applications, Price used the name of a person who died before the documents were submitted, the court documents said.
In the paperwork, he also fudged payroll expenses and the number of employees he purportedly had at three separate businesses, according to the court docs.
The DOJ said that price used some of the ill-gotten gains to buy a Lamborghini Urus, a Ford F-350 truck, and a Rolex watch.
The DOJ said authorities have recovered over $700,000 in the fraudulently obtained money.
According to the criminal complaint, Price received a felony conviction in 2010 for forgery and 2011 for robbery. The complaint states that he is also the defendant in an active criminal case in Texas, where he’s accused of tampering with a government record.
More than 160 defendants in more than 95 separate criminal cases have been prosecuted over fraudulently obtained PPP funds since the CARES act was enacted, authorities said, adding that they have seized more than $75 million in cash.