Houston man sentenced to greater than 9 years in jail for getting almost $1.6M in PPP loans and spending it on Lamborghini, strip golf equipment

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HOUSTON – The Houston man accused of happening a procuring spree after receiving greater than $1.6 million from the Small Enterprise Affiliation’s Paycheck Safety Program has been sentenced to 110 months in jail, the U.S. Justice Division introduced Monday.

In line with court docket paperwork, 30-year-old Lee Worth III pleaded responsible in September to prices of wire fraud and cash laundering, submitting fraudulent PPP mortgage purposes to 2 completely different lenders on behalf of three companies: 713 Building LLC, Worth Enterprises Holdings LLC, and Worth Logistic Providers LLC.

Via these mortgage purposes, Worth sought over $2.6 million and truly obtained over $1.6 million in PPP mortgage funds. Court docket paperwork stated Worth falsely reported the variety of staff and payroll bills in every of the PPP mortgage purposes.

In line with the official prison grievance in opposition to Worth, he began spending that PPP cash virtually instantly on extremely lavish gadgets, together with a $233,000 Lamborghini Urus, an $85,000 Ford F-350 pickup truck and a $14,000 Rolex.

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Prosecutors say he additionally spent 1000’s of {dollars} at Houston nightclubs and strip golf equipment, and greater than $100,000 to lease workplace house in Memorial Metropolis.

The Division of Justice, together with legislation enforcement companions, seized over $700,000 of the funds Worth fraudulently obtained, court docket paperwork stated.

On Might 17, 2021, the Legal professional Common established the COVID-19 Fraud Enforcement Process Drive to marshal the sources of the Division of Justice in partnership with businesses throughout the federal government to reinforce efforts to fight and forestall pandemic-related fraud.

Copyright 2021 by KPRC Click2Houston – All rights reserved.

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