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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. 

New Lamborghini Urus variant shown racing up Pikes Peak

Lamborghini set an all-time sales record in 2021 thanks in part to the Urus. The super-SUV has predictably been a hit, and it's getting an update in the near future to remain competitive. Footage published on social media gives us a preview of what to expect from the model. Posted on Instagram, the short video shows a camouflaged Urus prototype racing up Pikes Peak in Colorado. "When you're going that fast anything can happen," the narrator warns, but the preview stops short of revealing exactly what we're looking at. The footage of the SUV isn't much help, either: the Urus moves fast and is rarely in focus. Earlier spy shots may provide better insight into what's coming, however. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Images of a pre-production prototype testing in the snow published in January 2022 suggest that the visual changes made to the Urus will be relatively minor. They include additional vents integrated into the front bumper and a redesigned rear bumper. We're also expecting that the interior will receive new tech features, and it's not too far-fetched to speculate that a handful of mechanical changes will be found under the sheet metal. And, unverified rumors claim that a gasoline-electric hybrid powertrain will be made available in the coming years. Lamborghini will release additional details about its new Urus flavor in the not-too-distant future. That's also when we'll find out more about the Pikes Peak connection. Is the Italian firm planning to dethrone sister company Bentley and set a new SUV record? Stay tuned. For context, the current record holder is a Bentayga that raced up the 156-corner mountain in 10 minutes and 49.9 seconds in June 2018. The updated Urus isn't the only new Lamborghini model in the pipeline. The final evolution of the Huracan will make its debut before the end of 2022 and it will be worth waiting for: it will be a production-bound version of the off-road-ready Sterrato concept unveiled in June 2019. Lamborghini SUV Luxury Performance

Porsche designer to head Lamborghini style department

The winds of change are blowing through the front office in Sant'Agata Bolognese. Not only does Lamborghini have a new chief executive, but not it named a new chief designer as well. And he comes from Porsche. Mitja Borkert is his name, and he's been working in the Porsche design department since 1999. He headed up its advanced design office until 2014 when he was named head of exterior design for the company. The Macan, Cayenne, and the new 987 Boxster were all heavily influenced by his work, as were concepts like the Panamera Sport Turismo and Mission E. As the new director of the Centro Stile at Lamborghini, Borkert takes over from Felippo Perini, who's heading over to run Italdesign – a job that used to belong to Wolfgang Egger. The once-independent design firm was taken over by the Volkswagen Group in 2010, and recently saw its famous founder Giorgetto Giugiaro leave to start another office afresh. The shift in the design office follows hot on the heels of the announcement that longtime CEO Stephan Winkelmann is leaving for Audi's Quattro GmbH, and that former Scuderia Ferrari team principal Stefano Domenicali is moving in to take his place on the outskirts of Bologna. Considering how different their design approaches are, it will be interesting to see how a longtime Porsche designer applies his skills to Lamborghinis. Will future Raging Bulls go softer and more rounded, or will Borkert have to pull some new tricks out from his sleeve? We'll be watching to find out. Related Video: Mitja Borkert is the new Director of Centro Stile Lamborghini Sant'Agata Bolognese, 1 March 2016 – Automobili Lamborghini has appointed Mitja Borkert as the new Director of its Centro Stile (design center), starting from 4 April 2016. In his new role Mr. Borkert is responsible for the design of future Lamborghini models and the coordination of the design team, reporting to Maurizio Reggiani, Board Member for Research and Development. He succeeds Filippo Perini, who was appointed Design Director of Italdesign. Borkert is German, aged 42, and attended the Design University of Pforzheim where he graduated in Transportation Design. In 1999, he began work at Style Porsche, in Weissach, holding various positions, including General Manager Advanced Design until 2014, when he was appointed Director of Exterior Design. He contributed to the development of several Porsche models (Panamera Sport Turismo, Porsche Boxster 987 facelift, Cayenne, Macan, Mission e).