Robert Besser
04 Dec 2021, 22:51 GMT+10
HOUSTON, Texas: On Monday, a Texas man, Lee Price III, was sentenced to over nine years in prison after fraudulently obtaining COVID-19 relief funds for his business, which he used to buy a Lamborghini Urus luxury automobile.
In September, Price, 30, pleaded guilty to wire fraud and money laundering charges, after receiving PPP payroll loan funds worth $1.6 million by falsifying his applications, the Department of Justice (DOJ) said, citing court documents.
According to the documents, Price used the name of a person who died before the documents were submitted, as well as falsified payroll expenses and the number of staff he purportedly employed at three separate businesses.
Price used some of the money to also buy a Ford F-350 truck and a Rolex watch, the DOJ said, adding authorities have recovered over $700,000 of the fraudulently obtained money.
Get a daily dose of Seattle Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Seattle Bulletin.
More InformationZAGREB, Croatia: Authorities have said that a weekend bus crash near Varazdin in Croatia killed 12 passengers and injured 32.The ...
WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
NEW YORK, New York - Stocks were decidedly mixed in the U.S. on Tuesday as investors struggled to make a ...
DELHI, India: Dubbed the country's Warren Buffett, India's best-known stock investor and self-made billionaire, Rakesh Jhunjhunwala, died on August 14 ...
SAO PAULO, Brazil: Brazil's central bank chief Roberto Campos Neto has said that he believes credit cards will cease to ...
SYDNEY, NSW, Australia - Stocks in China were flat to lower on Tuesday as investors weighed up the disappointing economic ...
LONDON, England: Reports from the UK's opposition Labour Party said its leader, KeirStarmer, will call for a freeze on energy ...
MIAMI, Florida: Carnival cruise lines, including Carnival Cruise, Princess Cruises and Cunard, have made plans to drop mandatory COVID-19 testing ...