One such man is Lee Price III from the United States who borrowed $1.6 million (RM6.7 million) from the Paycheck Protection Program (PPP), to purchase series of luxury items including a Lamborghini Urus, Rolex watch, and Ford F-350.

Misused money meant to help people and businesses

PPP aims to support people and businesses affected by the pandemic, reported Times Now News.

To acquire the funds, the 30-year-old submitted various PPP applications to different banks.

While many denied him the loan, he got lucky with some. One of the applications said he owned a company named Price Enterprises that had over 50 employees with an average monthly payroll of $3,75,000 (RM1,585,500).

He was reportedly caught in an inspection was sentenced to 110 months in prison for counts of money laundering and wire fraud.