VietBF - Texas Man Fraudulently Used $1.6M PPP Loan on Strip Clubs, Lamborghini, Rolex and Booze, Feds Say

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Texas Man Fraudulently Used $1.6M PPP Loan on Strip Clubs, Lamborghini, Rolex and Booze, Feds Say

08/05/20

A Houston man faces federal charges that allege he fraudulently obtained and spent more than $1.6 million in loans issued under the Paycheck Protection Program (PPP).

Allegations related to spending suggest the Texas resident, identified as 29-year-old Lee Price III in a report released by the Department of Justice, used the money for a variety of personal expenses and recreational activities. Lee is accused of using the funds to purchase "luxury items," including a Lamborghini, Rolex watch, 2020 Ford pickup truck, and unspecified pieces of real estate. He allegedly spent "thousands" on visits to local strip clubs and night clubs in Houston, as well.

Lee was arrested and taken into federal custody on Tuesday, the same day he was scheduled to appear in court for the first time, according to the justice department's report. He is charged with wire fraud, bank fraud, engaging in illegal monetary transactions, and making false statements to a financial institution.

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Còn nhiều thằng gian lận giống như thằng nầy..ráng lôi đầu ra hết để làm gương.

Quote:

This is not the first time a PPP loan recipient has allegedly used federal relief funds for personal or otherwise improper expenses. In July, a man from Los Angeles was arrested and charged with bank fraud on accusations he received $8.5 million in loans from the program using aliases and fraudulent company information. The man allegedly used his loan money for stock market bets and gambling excursions in Las Vegas.

I can't believe this guy received that much money from a PPP loan !!!