A purchase fraught with consequences. Lee Price was sentenced to nine years in prison after fraudulently obtaining $ 1.6 million in Covid-19 aid under the Paycheck Protection Program (PPP) set up during the health crisis. He took the opportunity to buy a Lamborghini sports car as well as several luxury items.
As the Department of Justice reports, “Price lied about the number of employees and salary expenses for each claim” made for three different companies bearing his name. The Texan also “made a request on behalf of a person who died shortly before.”
If he is not the first person to have already been convicted of similar facts, it is his way of spending that intrigued investigators. He took the opportunity to repay a mortgage, he bought “a Lamborghini Urus, a Ford F-350 truck, a Rolex watch”, for prices of 233,000, 85,000 and 14,000 dollars, said the American authorities.
Over $ 700,000 was seized
More than 700,000 dollars fraudulently obtained have been seized and will be deducted from the reimbursements he will have to make. His lawyer, Tom Berg, also intervened about the case. “He hopes others will understand that there is no easy money. He will spend the 110 months of his sentence thinking, repenting and rebuilding his wasted life,” he said.
Numerous financial aid scam investigations have been initiated in the United States. During the health crisis, nearly 11.9 million state-guaranteed loans were authorized, allowing businesses to meet their financial needs.
>> To read also – Scam, fraud, swindle… Are you victims of it? Tell us your story
More than 160 people have been charged with similar facts in 95 investigations. In total, the US authorities have recovered more than $ 75 million improperly obtained.