A Houston man is sentenced to 9 years in prison after a wild spending spree using his illegally obtained $1.6M in PPP loans.
As we head into 2022, the authorities are still rounding up dumb criminals abusing the pandemic resources to flex for Instagram. We’ve seen reality TV stars, artists past their glory days, and even former athletes get arrested for misusing or illegally obtaining PPP funds. The sad part about it is the police do not even have to dig too deep—there’s always a new exotic vehicle purchase right on the bank statements or purchases at their favorite jewelers.
Let us not forget that Instagram is always the number one tool people use to self snitch. The non-famous PPP fraudsters stick out more than the celebrities because the overnight wealth is noticeable to everyone.
A man in Houston didn’t hold back and plead guilty to his crimes after being arrested but lived it up while he had his $1.6 Million in PPP funds.
Fox Business reports that federal prosecutors alleged that he submitted two applications for three entities – 713 Construction LLC, Price Enterprises Holdings LLC, and Price Logistic Services LLC – in seeking $2.6 million in relief funds and he was granted the $1.6 million. He then lied about the number of his employees and payroll expenses alongside submitting false tax records.
Once the money hit his account, 30-year-old Lee Price III lived the life he always dreamed of. He purchased a brand new Lamborghini Urus, a Ford F-350, and a Rolex to get his look right. Then, he hit the town spreading the wealth dropping $2,000 at a strip club and $2,500 at different nightclubs, and even $700 a the liquor store for his nights in. The only responsible thing he did with the money was pay off a property loan.
The DOJ ended his fun and was able to recover $700,000 before he spent it all. For his short-lived spending spree and illegal route to obtain the PPP loan, he will be spending the next 9 years in prison.
You can hear more about Price’s GTA style bender below.