We all remember the man from Miami who decided to use PPP loans from the federal government to go on a spending spree, purchasing, most notably, dating sites, jewelry, clothes, stays at luxurious hotels, and a 2020 Lamborghini Huracán. The car ALONE is valued at $318,000!
Well, even though they say imitation is the highest form of flattery, we think we would've chosen a more decent, upstanding human to emulate.
Houston entrepreneur Lee Price III is being accused of securing $1.6 million dollars in Paycheck Protection Program loans, and instead of using it on small businesses, bought a Rolex watch, a 2020 Ford F-350 pickup truck, spent thousands of dollars at strip clubs and night clubs, and also a new Lamborghini.
Price already has a lengthy criminal record including felony convictions for forgery in 2010 and for robbery in 2011, and is also currently facing charges of tampering with a government record. Now, Price is facing charges of making false statements to a financial institution, wire fraud, bank fraud, and engaging in unlawful monetary transactions.
Via Fox 26