If you are going to be a scammer, you have to learn to be a patient one.
You can’t immediately scam $1.6 million and then buy a Lambo. People tend to notice things like that and report the activity. At least lay low for a year or two and when they don’t care anymore, then buy your Lambo.
I will say that these sentences are too harsh, in my opinion. When scammers are getting more time than people trying to overthrow the government, it lets you know something is wrong with our justice system.
The Houston man accused of going on a shopping spree after receiving more than $1.6 million from the Small Business Association’s Paycheck Protection Program has been sentenced to 110 months in prison, the U.S. Justice Department announced Monday.
According to court documents, 30-year-old Lee Price III 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: 713 Construction LLC, Price Enterprises Holdings LLC, and Price Logistic Services LLC.
Through these loan applications, Price sought over $2.6 million and actually obtained over $1.6 million in PPP loan funds. Court documents said Price falsely reported the number of employees and payroll expenses in each of the PPP loan applications.
According to the official criminal complaint against Price, he started spending that PPP money almost immediately on incredibly lavish items, including a $233,000 Lamborghini Urus, an $85,000 Ford F-350 pickup truck 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 strippers didn’t have to give any of the money back.
One of the ways he was caught was he was flossing his ill-gotten gains on Instagram.
Always remember real Gs move in silence like Lasagna.
Flip the pages for more on how Price was caught.