Posted on 12/01/2021 5:03:56 AM PST by dynachrome
A Houston businessman was sentenced to nine years in prison for a scheme in which he obtained and laundered more than $1.6 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief and Economic Security (CARES) Act.
According to the U.S. Attorney's office, 30-year-old Lee Price III, who pleaded guilty to wire fraud and money laundering charges, submitted fraudulent PPP applications to banks and other lenders on behalf of three entities: 713 Construction LLC, Price Enterprises Holdings LLC, and Price Logistic Services LLC.
Through the applications, Price sought over $2.6 million and obtained $1.6 million.
(Excerpt) Read more at abc7.com ...
His last name should have been Pelosi.
I can understand the truck, but the rest of it?
Just kidding of course, just another culture culture vulture at work.
Poor sap doesn’t have the special “get out of jail free” card like Hunter Biden.
He dindu nuffin.
Same thing happened with the 2009 Obama Slush Fund ($900 billion dollar stimulus).
But since that money went to friends of Obama and other democrats there was little reporting on where the money actually disappeared.
We only know that there was (and is) little of substance to show for it.
Remember the “shovel ready jobs” Obama and Biden touted that would rebuild the nations physical infrastructure like roads and bridges?
Only to come back and admit that there really weren’t any significant number of shovel ready jobs.
So the infrastructure never got rebuilt and the money disappeared into the ether.
Now democrats want TRILLIONS more to rebuild the infrastructure again.
It’s Lucy Van Pelt pulling the football from Charley Brown deja vu.
$1000 bail.
A Lambo? How are the police going to catch him?
Enuff wiff dat
BFL
More than half of these “loans” were wasted and all were forgiven, so not really loans. The government has proven they are not adult enough to handle taxpayer funds in a responsible fashion.
I'm more surprised that he was actually convicted than that he bought a Lamborghini with the money. He must have annoyed somebody in some high place, perhaps not sharing the money with a politician.
If they had hired the mafia to handle these loans, they would have been paid back on time and with interest! The government did a deal with one Mafia leader during WW2 to ensure there would be no sabotage on the docks in NYC. No damage done. The price was something like the bad guy would not be deported or some such. Maybe they should try it again in a different framework now.
“Looking Good Billy Ray. Feeling Good Lewis”.
Lucky Luciano
This guy’s biggest mistake was not giving the DNC back their cut.
Just wait for him to crash.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.