Houston Man scammed $1.6 million in PPP coins. . . Blew $$ On Lambo & Str * pp * rs !!!
A Houston man convicted of defrauding $1.6 million in COVID-19 relief funds will go to prison for fraud and money laundering, MTO News has learned.
A judge sentenced Lee Price III, 30, to 110 months in prison on Monday, which is a little more than nine years – counting these people.
Lee pleaded guilty to wire fraud and money laundering in September, and at the time – committed suicide at the mercy of the court. He could get at least a couple of years in prison. But the judge was tough on the scammer, MTO News confirmed.
Federal prosecutors allege that Lee lied on Paycheck Protection Program applications to two different financial institutions. On one of the petitions, Lee listed a CEO who had passed away a month before it was filed.
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What is surprising is that he received money from both loans.
Federal prosecutors say Lee received $700,000 for that company and another $900,000 for another. But federally, both are unemployable.
So what did he spend the PPP cash on? Prosecutors said Lee purchased a brand new $200,000 Lamborghini Uras, a Ford F-350 pickup, a Rolex and other luxury items. Prosecutors said Lee also dropped thousands of people at Houston strip clubs and nightclubs.
When all was said and done, Lee had made over $1,000,000. The Feds seized only $700,000 in merchandise and cash from Price, who had a lengthy rap in Houston from 2007 when he was a teenager.
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