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Let’s say it all together, people, crime doesn’t pay! And greed will take you down faster than anything!

Well, one Houston man is learning that the hard way.

The U.S. Department of Justice announced Monday that 30-year-old Lee Price III has been sentenced to more than nine years in prison for defrauding the government out of more than $1.6 million in PPP loans.

Price pleaded guilty in September to charges of wire fraud and money laundering, submitting fraudulent PPP loan applications to two different lenders on behalf of three businesses.

Investigators say Price wasted no time in spending his loot, immediately going on shopping sprees and purchasing lavish items, including a $233,000 Lamborghini, an $85,000 Ford F-350 pickup and a $14,000 Rolex.

Prosecutors say he also spent thousands of dollars at Houston nightclubs and strip clubs, and more than $100,000 to lease office space in Memorial City.

The DOJ and law enforcement partners seized over $700,000 of the funds Price fraudulently obtained.

In an effort to prevent more crimes like this from happening, in May, the Attorney General established the COVID-19 Fraud Enforcement Task Force to monitor the resources coming from the government and to enhance efforts to combat and prevent pandemic-related fraud.