September 21, 2020

A 25-year-old man spends COVID 19 loans on Rolex Watch, Sports car..

US authorities arrested a 25-year-old, Lee price III, for using $1.6 million in pandemic aid to go on a spending celebration.

According to Daily Post: Lee, who got two separate loans from the government under the Paycheck Protection Program to pay the employees he never had, was charged with fraud by the Justice Department, a statement by the Justice Department said that Instead Lee spent the funds on luxurious goods like a sports car and a Rolex watch, as well as real estate.

He also got himself an F-350 pickup truck, and thousands of dollars at Houston strip clubs, according to the statement.

Lee used the names of two companies: Price Enterprises Holdings which allegedly received more than $900,000, and 713 Construction which got over $700,000.

The loans were for the payment of his employees in the two companies but neither had employees and “the individual listed as CEO on the 713 Construction loan application died in April 2020, a month before submitting the application ” according to the complaint.