A 30-year-old businessman from Houston, Texas named Lee Price III.

He is charged of falsifying PPP documents and applications to get loan money from banks and other lenders.

Lee Price III

He admitted to committing bank fraud, wire fraud, and giving false information to a financial institution. Additionally, he is accused of participating in unlawful financial operations.

A Texas guy who borrowed $1.6 million in PPP loans to buy vehicles, a Rolex, and clubs was given a jail term of more than 9 years.

According to the US Department of Justice, a 30-year-old Texas man who fraudulently obtained more than $1.6 million under the government’s Check Protection Program against the coronavirus pandemic was given a 9 years and 2 months jail sentence. According to the government, Lee Price III admitted guilt to fraud and money laundering in September.

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As part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, PPP loans were made available until May in order to assist small companies in managing the financial losses brought on by the epidemic.

Authorities claim that Price filed false loan applications to many lenders in an effort to earn more than $2.6 million.

By inflating the payroll costs and the number of employees for three distinct companies, he was able to obtain more than $1.6 million.

According to the criminal complaint, Price claimed that one of the small companies on one of the applications.

Price Enterprises employed 50 workers and paid out an average of $375,000 each month.

Authorities said that the company has no payroll, no workers, and no evidence to suggest that it has ever employed anyone. Authorities claim that when he received the money, he used it to buy a Lamborghini Urus, a Ford F-350, and a Rolex watch.

He also spent more than $2,500 at nightclubs, over $700 at a liquor shop, $2,000 at a strip club, and some of the money was used to settle a mortgage debt. Over $700,000 of the monies he defrauded were recovered, according to the Justice Department.

Price was found guilty of forgery in 2010 and robbery in 2011, per court records. He is also a defendant in an ongoing criminal case in Texas where he is charged with tampering with official records, according to the complaint.

The prosecution of more than 160 people in more than 95 different criminal proceedings stems from PPP monies that were obtained improperly. More than $75 million in cash was reportedly confiscated by the authorities.

Age, birthday, family, information about his parents, and origins of Lee Price III. early years

In 1991, Lee Price III was born. He is an American native. He was born and brought up by Americans.

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We don’t know anything about his parents or early years. We’ll add information as soon as we can.

How is Lee Price III’s marriage to his wife?

The specifics of his partnerships are not traceable.

Net worth of Lee Price III, What is his salary?

He is a business person. His net worth’s specifics, nevertheless, have not yet been made public in the media.

Which college and school did he attend? What did he major in?

He most likely attended school there.

Does Lee Price III have a presence on any social media networks?

We are unable to find Lee Price III’s social media accounts.

Lee Price III’s Physical Description Size and Weight

Hair colorBlack
Eye colorBlack
Body Shape       Fit
Sexuality            Straight

There are some interesting details regarding Lee Price III that you should be aware of

Age30 years
Zodiac signUnknown
Relationship StatusSingle

By Bradford

Bradford is an entertainment afficionado, interested in all the latest goings on in the celebrity and tech world. He has been writing for years about celebrity net worth and more!