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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 restores ultra-rare one-off Miura SVR

This is the one-of-one Lamborghini Miura SVR. It's a racing development of the already rare Miura SVJ, and its 19-month factory restoration has just been completed. It could very well be the most desirable Miura ever built. The SVR is one of 763 Lamborghini Miuras built by the factory between 1966 and 1972. In addition to "regular" Miuras, there was a limited-number run of "Jota" specification cars, or SVJs, developed by factory test driver Bob Wallace. The specific car here was originally a green Miura S with the chassis number #3781, built in 1968 and displayed at the Turin Motor Show. In 1974, it was acquired by a German customer, who brought it back to the factory to be reborn for the first time. During that 18-month rebuild, it was converted into special, created-for-the-occasion SVR spec, a notch above the vaunted 440-horsepower SVJ cars. In 1978, #3781 was sold to Japan, where it became an actual hero car, making it into manga comics and serving as a basis for toymaker Kyosho's SVR model car line. It certainly takes something for a single car to be so breathtaking that it creates its own niche and following. After 40 years, the SVR was deemed to need restoration, and it arrived to the factory already in pieces. It wasn't a rotten shell, as it was sold as a complete car in Japan in 2015; however, the gold leather interior seen in this Petrolicious post didn't make it to 2018. The head of Lamborghini's factory restoration division Polo Storico, Paolo Gabrielli, says that the factory wasn't really able to use the same approach as Polo Storico restorations usually require. "The original production sheet wasn't of much help, as we relied mostly on the specifications from the 1974 modifications," said Gabrielli. The only ways where the restored SVR differs from the original 1974 build is that it now has 4-point safety belts, better racing seats and a removable roll bar, as the car sees race track use and these modifications were requested by the car's current owner for safety's sake. Now that it's finally finished, #3781 was shown at the Nakayama Circuit in Japan. Related Video:

Lamborghini-powered Vector M12 supercar is ultra rare, obscure, and for sale

It's an excellent week for fans of obscure American supercars that never really took off. One of the seven Falcon F7s built is currently being auctioned on Cars & Bids, and one of the 14 Vector M12s made will cross the auction block during Barrett-Jackson's Scottsdale sale taking place in March 2021. Better yet, it's offered with no reserve. Finished in black with a gorgeous red leather interior, this M12 was designed and built for the Prince of Brunei, according to Barrett-Jackson boss Craig Jackson. High-end cars that end up in Brunei rarely leave the microstate. The Sultan's collection allegedly includes more than 7,000 luxurious vehicles that are almost never shown to the public, yet this M12 somehow returned to the United States and found its way into the Larry Winkler collection. Although it has traveled around the world, this M12 has evidently been driven sparingly. Its odometer shows merely 2,160 miles, and they're claimed to be original. Barrett-Jackson also points out that it received a major, engine-out service in November 2019 during which the clutch was replaced and an upgraded ceramic flywheel was installed. Interestingly, the interior was also redesigned to make it easier for taller drivers to take the wheel. Power comes from a 5.7-liter V12 engine borrowed from none other than the Lamborghini Diablo. It develops 492 horsepower and 425 pound-feet of torque, and it spins the rear wheels via a five-speed manual transmission built by ZF. Vector pegged the M12's zero-to-60-mph time at 4.5 seconds, an impressive number in the 1990s. In comparison, the standard Diablo's zero-to-60-mph time hovered around four and a half seconds, too. M12s rarely trade hands, and they're not cheap when they do. When this example crosses the auction block in March 2021, the market will decide what it's worth, because there's no reserve. The highest bidder will take it home, regardless of where bidding stops. If you want a shot at adding it to your collection, you can register to bid online. Auto News Lamborghini Coupe Performance Supercars Classics