Prosecutors: Texas man stole $1.6M in COVID-19 relief money

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HOUSTON (AP) — Federal prosecutors say a Houston, Texas, man bilked the government out of $1.6 million in COVID-19 business relief funding and spent some of the money on a Lamborghini, jewelry and trips to strip clubs, among other things. The Houston Chronicle reports that 29-year-old Lee Price III is charged with making false statements to a financial institution, wire fraud, bank fraud and engaging in unlawful monetary transactions. Prosecutors allege that Price stole from the Paycheck Protection Program, which gives low-interest loans to small businesses struggling during the pandemic. They say Price also used the loans for a 2020 Ford pickup, a Rolex watch and real estate.