US jails man who bought Lamborghini with government loan

Instead of speeding off in a $200,000 Lamborghini Urus, a Texas man got a slower ride to jail Tuesday after US authorities arrested him for using $1.6 million in government pandemic aid to go on a spending spree. Lee Price III, 29, was charged with fraud after he secured two government loans under the Paycheck Protection Program to pay employees he did not have, the Justice Department said in a statement. Price secured two loans: Price Enterprises Holdings allegedly received more than $900,000, while 713 Construction was approved for over $700,000, but neither has employees and "the individual listed as CEO on the 713 Construction loan application died in April 2020, a month before the application was submitted," according to the complaint.

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