29yr old Breh arrested for finessing government for $1.6 million, buying hoes and Lambos

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  1. goatmane

    goatmane Veteran

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    Houston entrepreneur spent $1.6M in COVID-19 relief funds on Lamborghini, strip clubs: prosecutors


    Houston entrepreneur spent $1.6M in COVID-19 relief funds on Lamborghini, strip clubs: prosecutors

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    HOUSTON – A 29-year-old Houston man is accused of making fraudulent applications for coronavirus relief aid and then spending the money on luxury items, according to a release from the U.S. Attorney’s Office.

    Lee Price III was arrested and is charged with making false statements to a financial institution, wire fraud, bank fraud and engaging in unlawful monetary transactions. He appeared in federal court at 2 p.m. Tuesday and was appointed a federal public defender during the hearing and a detention hearing was scheduled for Thursday at 10 a.m.

    Prosecutors said Price was involved in a scheme to submit fraudulent Paycheck Protection Program (PPP) loan applications to federally insured banks and other lenders. Two of the fraudulent applications Price made received funding, according to the criminal complaint:

    • Price Enterprise Holdings allegedly received $900,000
    • A loan application listing 713 Construction was approved for $700,000
    “The loan applications allegedly asserted both entities each had numerous employees and significant payroll expenses,” officials wrote. “According to the charges, however, neither entity has employees nor pays wages consistent with the amounts claimed in the loan applications.”

    Officials also said the person who was listed as the CEO of 713 Construction had died in April 2020, more than a month before the loan application was submitted.

    Price is accused of using the money to make “lavish personal purchases” including a Lamborghini Urus, a Rolex watch, a 2020 Ford F-350 pickup truck and a real estate transaction, officials wrote.

    “He also allegedly spent thousands at strip clubs and other Houston night clubs,” officials wrote.

    If convicted, Price could face a maximum penalty of up to 30 years in federal prison and $1 million fine on the bank fraud charge and up to 10 years in federal prison and a $250,000 fine for the unlawful transactions charge.


    [​IMG][​IMG]
    Credit: HPD
    The many mug shots of Lee Price III who has a criminal record dating back to 2007 when he was a teenager.

    What is PPP?
    The Small Business Administration (SBA) guarantees the loans for COVID-19 relief through the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief and Economic Security (CARES) Act which was enacted on March 29.

    The PPP allocated $349 billion in forgivable loans to small businesses for job retention and certain other expenses. In April 2020, the United States Congress authorized another $300 billion towards the PPP.
     
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  2. Thavoiceofthevoiceless

    Thavoiceofthevoiceless Superstar Supporter

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    A lot of people that ran the PPP/ SBA Grant scam are going to get hit with that whammy during tax time when they have to include that bread as income. I know and have heard of people making up business names and even using the same business info when filling out the paperwork.

    Have fun explaining to the IRS if/when you get audited how you magically jumped into a way higher tax bracket than the year previously. The IRS takes no losses and already feel like people are using COVID-19 to finesse their way into bread and out of paying taxes.
     
    Last edited: Aug 5, 2020
  3. Silkk

    Silkk Life Is Great!

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    Dumbass getting Fed time now :huhldup:
     
  4. Fade Runner 2049

    Fade Runner 2049 Veteran

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    Lol
     
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  5. til november

    til november The Picasso of the Ghetto

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  6. Amerikan Melanin

    Amerikan Melanin Banned

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    FED TIME!!!

    I wonder if someone could have finessed and left the country or if they would have come after you?
     
  7. Mr Rager

    Mr Rager Leader of the Delinquents Supporter

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    He's sitting down for a minute, especially since...well(:mjpls:), but also because the total was over a milli. They're going to make an example out of breh :smh:

    To be fair, I can't say that I wouldn't have done the same thing when I was 23
     
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  8. Trojan 24

    Trojan 24 Veteran

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    Which Coli breh is this? :mjlol:
     
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  9. Thavoiceofthevoiceless

    Thavoiceofthevoiceless Superstar Supporter

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    Depending on where you move to and that countries extradition process. They will keep track of you and the moment you step foot on US soil or a country that has no problem extraditing you back, then it’s a wrap.
     
  10. G-Zeus

    G-Zeus G-Zeus Chrystler...the brehsident

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    At 29 years what a dumb fukk..

    Ur old enough to know ur getting caught for sure...

    Young enough to spend the rest of your prime years in jail :francis:


    He basically took a one way ticket to 50+ years old.
     
  11. Ezekiel 25:17

    Ezekiel 25:17 Superstar Bushed

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    They'd definitely come after you, ain't no way around it, but then I'm underestimating criminals. You'd need a professional criminal to give you an entire new identity, a country where you can stay lowkey, and a bank to hold the money.

    I'm thinking a smart criminal would flip $50,000 a few times and that's it.
     
  12. Luck

    Luck The one true gym gawd... Supporter

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    Feds go after the bigger fish then work their way down :yeshrug:

    All of these goofies who got loans in their name / social thinking its sweet now :mjlol:
     
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  13. MECCA1000

    MECCA1000 Pro

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    It's obvious he's a dumbazz with all those mugshots ...... the feds gonna give him a restitution bill after he gets finished sitting down too ..... smh
     
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  14. Tom Foolery

    Tom Foolery You think a crackhead paying you back? Supporter

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    nikkas are ridiculously stupid.

    You scam your way to 1.6 million dollars, only to blow it all on Cars, Jewelry and hoes.
     
  15. Trav

    Trav Marathon Mentality

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    Thats finna be the nikka that was on here bragging the other day about shyt like this lol.
     

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