No, You Can’t Use Federal COVID Relief Loan to Buy a Lamborghini or $57,000 Pokemon Card
fuel a federal watchdog’s claim that the Small Business Administration (SBA) overpaid $4.5 billion in grants to self-employed people and that “no system of controls was in place to flag applications with flawed or illogical information” — even claims of up to 1 million employees. And several people exploited the lack of guidelines brazenly.Lee Price III pled guilty in February to using over $1.6 million of loan money to buy a Lamborghini Urus, a Rolex watch and real estate transactions.