A businessman in Texas has been charged with fraud after reportedly spending Coronavirus relief funds on some luxury goods.
According to NBC News, the 29-year-old man, Lee Price III submitted a fraudulent loan application for the Paycheck Protection Program which is a federal loan program that has set aside more than $600 billion to help small businesses struggling during the pandemic.
Federal authorities said Price received two loans for two businesses that he said had “numerous” employees and “significant” payroll expenses, according to his applications.
Well, that is not the case as Price is alleged to have spent the money on a Lamborghini Urus, a Rolex and a 2020 Ford F-350 pickup. He is also accused of spending thousands of dollars at strip clubs and nightclubs in Houston, the statement said.
So its not just happening in South Africa it seems.