Man accused of using COVID relief funds on Lamborghini, luxury items sentenced to prison
HOUSTON (AP) — A Houston man has been sentenced to more than nine years in prison after he was accused of using federal COVID-19 relief funding on a Lamborghini, a Rolex watch and trips to strip clubs.
Lee Price III was sentenced Monday to 110 months in prison. Price pleaded guilty in September to wire fraud and money laundering.
His lawyer Tom Berg says in an email that Price “hopes that others will learn from his reckoning that there is no easy money.”
Prosecutors accused Price of fraudulently using more than $1.6 million in funding from the Paycheck Protection Program, which gave low-interest loans to small businesses struggling during the pandemic.
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