HOUSTON – A Texan businessman was accused of asking for $ 1.6 million of aid money for those affected by the coronavirus pandemic and spending it on a Lamborghini, a Rolex watch, and nudist sites.
Lee Price III, 29, faces charges of fraud, bank fraud and making false statements to financial institutions.
Her case was brought in Federal District Court in Houston.
Through the Payroll Protection Program (PPP), more than $ 600 billion has been allocated to help businesses affected by the economic crisis caused by the COVID-19 pandemic.
According to federal authorities, Price received two loans (one for $ 900,000 and the other for $ 600,000) to help in two businesses where he argued in his application that he had “numerous” employees and “significant” payroll expenses.
In addition to the Lamborghini and Rolex, Price would have bought a Ford F-350 pickup and spent significant amounts of money at nightclubs in Houston.