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 Philadelphia Herald 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 Philadelphia Herald.
More InformationJEDDAH, Saudi Arabia: In a Twitter post published this week, Saudi Arabia's Kingdom Holding said it had invested in Russian ...
SYDNEY, NSW, Australia - Stock markets across the Asia Pacific region rallied on Wednesday.In Japan, the Nikkei 225 surged 353.86 ...
DHAKA, Bangladesh A preliminary investigation into the tragic crane accident that killed five people in Uttara on Monday has found ...
HANOI, Vietnam: The Vietnamese government is considering building a high-speed railway, with a possible cost of up to $58.7 billion, ...
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 ...
As China unleashed live-fire military exercises off the coast of Taiwan, simulating a real "reunification by force" operation in the ...
NAYPYIDAW, Myanmar - According to a legal official, a court in Myanmar has sentenced former leader Aung San Suu Kyi ...
BEIJING, China: Following a meeting between their foreign ministers, China and Nepal have agreed to build the Trans-Himalayan Multi-Dimensional Connectivity ...
BEIJING, China: Several regions in China experienced temperatures exceeding 40 degrees Celsius, including the major southwestern city of Chongqing.The country's ...
SACRAMENTO, California: California Governor Gavin Newsom is proposing to give a $1.4 billion government loan to extend the life of ...
NEW DELHI, India: A government order released to reporters this week said New Delhi will continue to enforce a mask ...