Who is Lee Price III? Houston man spent $1.6M in PPP loans on cars, Wiki, Facts to know, Age

Lee Price III is a businessman from Houston, Texas, who is 30 years old.

He is accused of misrepresenting PPP applications and paperwork in order to obtain loan funds from banks and other lenders.

He pleaded guilty to wire fraud, bank fraud, and making false representations to a financial institution. He’s also been charged with engaging in illegal financial activities.

Texas man who spent $1.6 million in PPP loans on cars, a Rolex, and clubs; sentenced to more than 9 years in prison.

A 30-year-old Texas man has been sentenced to 9 years and two months in prison for fraudulently obtaining more than $1.6 million in funds through the Government’s Check Protection Program against the coronavirus pandemic, the US Department of Justice said on Monday. The government said Lee Price III pleaded guilty in September to fraud and money laundering.

The PPP loans were offered through May as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act to financially help small businesses manage the economic losses of the pandemic.

According to the authorities, Price fraudulently submitted loan applications to various lenders in an attempt to obtain more than $2.6 million.

He was able to acquire more than $1.6 million by misrepresenting the number of employees and the payroll expenses for three different businesses. 

On one of the applications, according to the criminal complaint, Price said that one of the small businesses.

Price Enterprises, had 50 employees and an average monthly payroll of $375,000.

Authorities said the business has no employees and no payroll, and that there is no indication that the entity has ever hired anyone.  Once he received the funds, authorities said, he used the money to purchase a Lamborghini Urus, a Ford F-350, and a Rolex watch. 

He also spent $2,000 at a strip club, more than $700 at a liquor store, more than $2,500 at nightclubs, and used part of the funds to pay off a loan on a residential property.  The Justice Department said it was able to retrieve over $700,000 of the funds he frauded.

Also Read: Former baseball player LaMarr Hoyt Dies at 66, Wiki, Family, Wife, Net worth, Kids Age

According to criminal proceedings, Price was convicted of forgery in 2010 and robbery in 2011.  He is also the defendant in an active criminal case in Texas, where he’s accused of tampering with a government record, the complaint states.

More than 160 defendants in more than 95 separate criminal cases have been prosecuted over fraudulently obtained PPP funds. Authorities said that they have seized more than $75 million in cash.

Lee Price III Age, Date of Birth, Birthday, Family, what about his father, mother, where is he from? Early life

Lee Price III  was born in 1991. He hails from U.S.A. He was born and raised  by an  American family.

lee price iii age

We do not have information regarding his early life and parents. Details will be added as soon as possible.

Lee Price III Wife and What about his relationship?

We are unable to trace the details regarding his relationships.

Lee Price III Net Worth, How much does he earn?

He is one of the businessman. However, the details regarding his net worth has not been revealed in the media  yet.

Trending: Why does Christian Porter Quit his political career? Age, Everything on his First Wife and Current, Bio, Net worth, Family

Which school and college did he go to? What was his major?

He probably did his schooling in his hometown.

Is Lee Price III available on any kind of social media platform?

We are not able to trace the social media details of Lee Price III.

Lee Price III’s Body Appearance Height, Weight

HeightN / A
Hair colorBlack
Eye colorBlack
Body Shape       Fit
WeightN / A
Sexuality            Straight

Interesting facts about Lee Price III which you should be known about

Age30 years
Zodiac signN / A
Relationship StatusSingle
ParentsN / A

Leave a Comment