Houston: Man Who Bought Lamborghini With Covid Relief Money Gets 9 Plus Years

by Harold W. Reid, The Chicago Times

December 1, 2021

HOUSTON – Lee Price III, 30, was sentenced to more than nine years in prison after pleading guilty in a case in which prosecutors claimed he spent federal COVID-19 relief money on a Lamborghini Urus, a Rolex watch, and strippers.

Price was sentenced to 110 months in prison after pleading guilty to wire fraud and money laundering in September.  Prosecutors accused Price of misusing more than $1.6 million in Paycheck Protection Program funding, which provided low-interest loans to small businesses struggling during the pandemic.  Prosecutors also claim Price used the funds to purchase a $85,000 Ford F-350 pickup truck and to pay off a residential property loan.

According to court records, he obtained the coronavirus relief funds through bogus businesses, and authorities have recovered approximately $700,000 of the funds.