A Texas man who pleaded guilty to fraudulently taking money meant for COVID-19 relief has been sentenced to 110 months in prison.
Lee Price III pleaded guilty in September to charges of wire fraud and money laundering after he received more than $1.6 million from the federal government and used it to buy luxury items for himself, the Justice Department said.
Price was accused of filing multiple fraudulent Paycheck Protection Program loan applications with multiple banks across the country, and when he got the money he bought items like a Rolex and a Lamborghini Urus and spent $2,000 at a Houston-area strip club, The Washington Post reported.
Price was accused of lying about the number of employees and payroll expenses in his loan applications, as well as using the name of a dead person on one, USA Today reported.
The Justice Department said that since beginning to investigate crimes of fraud related to the PPP, they have brought charges in more than 95 criminal cases.
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