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Texas man gets prison for buying Lamborghini with Covid funds

A Texas man who spent coronavirus relief funds to feel a little less bored during lockdown is staring down a nine-year prison term after pleading guilty to wire fraud and money laundering. Lee Price III finagled more than $1.6 million in low-interest relief loans, the Associated Press reports, which he spent to pay off a mortgage and buy a couple of cars: an $85,000 Ford F-350 and and Lamborghini Urus.  According to the Houston Chronicle, Price's scheme involved funneling a little under $1 million through each of two of his businesses (Price Enterprises Holdings and 713 Construction), both of which Price claimed had large payrolls that needed to be covered using emergency funds from the Paycheck Protection Program (PPP). While these were ostensibly loans, they were structured to be forgiven if the funds were distributed within 10 calendar days and the borrower applied for forgiveness within 10 months of taking the loan. Provided those criteria were met, it was essentially free money to cover payroll. Price's employees, however, did not exist.   You'll be forgiven for thinking you've heard this story before. Coronavirus really seemed to bring out the Lamborghini fans. A California man was accused of adding one to his garage (along with a Ferrari and Bentley) and plead not guilty earlier this year to charges that he scammed more than $5 million from the PPP. Last year, a Florida man's scheme to defraud the same program was undone by a hit-and-run accident in the blue Lamborghini Huracan Evo he bought with the proceeds. 

Weekly Recap: Takeaways from the Frankfurt Motor Show

We obsessively covered the 2015 Frankfurt Motor Show, and naturally, we selected our favorites from this fall's biggest automotive event. Now that the dust has settled, we're looking ahead to what it all means. Here are three takeaways from the floor in Frankfurt. The Germans are serious about electric vehicles: It's a bit cliche to say BMW, Mercedes, and Audi have downplayed electrics in favor of other technologies, like diesels. For a time that may have been true, but those three companies, along with Porsche and Volkswagen, are emerging as leaders in EV development. That was on display in Frankfurt, when all of them revealed either all-electric or plug-in hybrid models. Gas prices are relatively low in the United States, but clearly the Germans are thinking long-term and globally. Everyone is serious about SUVs: You gotta have one, even if you're Bentley or Jaguar. It's 2015 and it's what consumers want. As Jaguar design director Ian Callum put it, "Not to be in the sector would be a little naive for the sake of purity." It's not just the flashy exotic luxury makers. Nissan showed the Gripz concept, which is rakish, radical, and meant to blend traits of SUVs and sports cars into a vehicle that really crosses over. Look for more, especially in the luxury sector, as Rolls-Royce, Lamborghini, and Aston Martin ramp up their own SUV efforts. There's no ceiling to the luxury market: Speaking of high-end cars, companies are continuing to invest in extravagant wares beyond just SUVs. Even during the recession, ultra-luxury makers remained relevant, and now they're back at full stride. In Frankfurt, that was illustrated by yet another S-Class model, the cabriolet, which will come in S550 and S63 AMG variants in the United States. Ferrari also showed off the 488 Spider, and Lamborghini opened up the Huracan LP 610-4 Spyder. Meanwhile, Bugatti's Vision Grand Turismo concept reminded enthusiasts that it's plotting life after the Veyron. European auto shows always draw the glitziest reveals from luxury makers, and this year didn't disappoint. OTHER NEWS & NOTES 2016 Honda Civic redesigned with snazzier style, turbo power The 10th-generation of the Honda Civic debuted this week at events in Los Angeles and Detroit ahead of its launch in the United States this fall as a 2016 model. Honda fortified the Civic with LED lights, an available turbo engine, and a more tech-laden cabin.

Lamborghini Huracan Sterrato off-roader is headed to production

Ending years of rumors and speculation, Lamborghini has confirmed it will build the rally-inspired Huracan Sterrato concept it unveiled in June 2019. The model, which will be the final evolution of the Huracan, is scheduled to make its official debut before the end of 2022. Preview images released by the firm give us an early look at the first off-road-ready Huracan. The coupe remains draped in camouflage but we can tell that not a lot has changed since the design study made its debut over three years ago — and that's just awesome. At its core, the Sterrato takes the form of a Huracan on stilts with two driving lights attached to its front end, wheel arch flares and a pair of roof rails. Lamborghini Huracan Sterrato, preview images View 5 Photos We're curious to find out how Lamborghini modified the Huracan's suspension system to dial in the extra ground clearance. And, there's no word yet on what the model is powered by, though we're guessing it uses a version of the standard car's naturally-aspirated, 5.2-liter V10. For context, the Sterrato concept was powered by the Huracan EVO's V10 engine, rated at 640 horsepower and 442 pound-feet of torque. It also featured all-wheel drive, a four-wheel steering system and torque vectoring, but all of these systems were retuned for off-road use. Lamborghini widened the front and rear tracks by about an inch, hence the big flares, and it added 1.85 inches of ground clearance. Lamborghini will introduce the Huracan Sterrato — assuming the concept's name is retained for the production model — by the end of 2022, meaning deliveries could start in early 2023. Pricing information hasn't been announced yet. When it lands, the off-roader will compete in a class of one. There are a great many supercars and there are a great many super-SUVs, but these two segments have rarely intersected in the realm of production cars. It's a different story in the concept car world: Volkswagen-owned ItalDesign Giugiaro turned the Lamborghini Gallardo into a high-riding design study called Parcour in 2013, and Audi unveiled the 5.0-liter V10 TDI-powered Nanuk later that year.