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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. 

Lamborghini hopes to keep combustion engines alive beyond 2030

FRANKFURT — Volkswagen's supercar brand Lamborghini is looking to keep combustion engine vehicles alive beyond the end of the decade, the unit's Chief Executive Stephan Winkelmann told a German weekly newspaper. "After hybridization, we will wait to see whether it will be possible to offer vehicles with an internal combustion engine beyond 2030," he told Welt am Sonntag. "One possibility would be to keep combustion engine vehicles alive via synthetic fuels." Winkelmann last month said Lamborghini planned to roll out its first fully electric model at the end of this decade, underscoring a more cautious approach after comments last year that a release was planned for second half of the decade. Lamborghini, as well as key rivals Ferrari, Aston Martin Lagonda and McLaren, are wrestling with how to shift their ranges to battery power without losing the high performance that supports their premium pricing. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Valentino Balboni thinks the Miura greatest Lambo ever

Valentino Balboni spent 40 years at Lamborghini, a few years as a mechanic's apprentice at the beginning, then as a test driver at the request of old man Ferrucio himself. He is embedded in the brand, said to have driven 80 percent of the company's entire production until he retired in 2009. He has ridden and tamed so many bulls that they named one after him, the 2010 Lamborghini Gallardo LP550-2 Valentino Balboni, and even made it rear-wheel drive because that's how he likes it. Balboni spoke to Road & Track in advance of an auction in New York on November 19 that will see a 1969 Miura P400S go on the block. A fixture from the days when mad men weren't merely characters on a television show, Balboni discusses taking customers for test drives, being sent on warranty calls, his favorite car, and why there will never be another one like it. Head over to RT to read the full interview from the man who helped make the original Countach, and therefore Lamborghini, what it is today. And in case you want in on the action, the pre-sale estimate for the centerpiece Miura is $800,000 to $1.6 million. Related Video: