Texas man who got over $1M in COVID funds and bought Lamborghini gets long prison sentence

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A Houston man has been sentenced to more than nine years in prison after he was accused of using federal COVID-19 relief funding on a Lamborghini, a Rolex watch and trips to strip clubs, federal prosecutors said. 

Lee Price III, 30, was sentenced Monday to 110 months in prison. Price pleaded guilty in September to wire fraud and money laundering. 

“Mr. Price hopes that others will learn from his reckoning that there is no easy money,” Price’s lawyer Tom Berg said in an email to news outlets. “He has the balance of the 110-month sentence to reflect, repent and rebuild his misspent life.” 

TEEN SELLING PLAYSTATION SHOT WHEN MEETING POTENTIAL BUYER IN TEXAS 

Lamborghini cars on display during the 2021 Guangzhou international automobile exhibition at China Import and Export Fair Complex in Guangzhou, China on Nov. 23, 2021. 

Lamborghini cars on display during the 2021 Guangzhou international automobile exhibition at China Import and Export Fair Complex in Guangzhou, China on Nov. 23, 2021. 
(Stringer/Anadolu Agency via Getty Images)

Prosecutors accused Price of fraudulently using more than $1.6 million in funding from the Paycheck Protection Program, which gave low-interest loans to small businesses struggling during the pandemic. 

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The Lamborghini Murcielago at Petrolheadonism Live at Knebworth House. 

The Lamborghini Murcielago at Petrolheadonism Live at Knebworth House. 
(Martyn Lucy/Getty Images)

According to prosecutors, Price also used the money to buy an $85,000 pickup truck and to pay off a loan on a residential property. 

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