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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSecond Person Used Covid Relief Money to Buy a Lamborghini, Prosecutors Say
A Texas man this week became the second person in less than two weeks to be accused by federal prosecutors of using Covid-19 relief money to buy a Lamborghini.
The man, Lee Price III, 29, of Houston, received more than $1.6 million under the federal Paycheck Protection Program after he submitted five applications in May and June with fraudulent information to numerous banks claiming to employ dozens of people, prosecutors in Houston said on Tuesday.
In response to two of those applications, a pair of banks that officials did not identify deposited money into bank accounts controlled by Mr. Price, according to a criminal complaint filed in the Southern District of Texas.
With that money, Mr. Price went on a lavish spending spree, according to the complaint. On June 26 the day Mr. Price received $937,500 in response to one request he purchased a $14,000 Rolex watch, the complaint stated. The next day, it said, he bought a 2019 Lamborghini Urus, for $233,337.60.
https://www.msn.com/en-us/news/us/second-person-used-covid-relief-money-to-buy-a-lamborghini-prosecutors-say/ar-BB17zYBO?li=BBnb7Kz
catbyte
(34,408 posts)Sherman A1
(38,958 posts)Relief program.
gratuitous
(82,849 posts)Look! Somebody bought a Lamborghini with money that was supposed to help small businesses! That means the program was a scam and a sham, so every small business owner has to suffer because of one guy. Sort of like how the student loan program went from a tool to help people get an education and improve their lives to become a path just as likely to lead to permanent poverty.