A Colorado man will spend time in prison for using pandemic-relief money to finance an extravagant lifestyle.

Joshua Lybolt, 47, was sentenced to 20 months in federal prison, $5,346,802. 61 in restitution, and a $50,000 fine after pleading guilty to one count of wire fraud and one count of money laundering, according to a news release from the United States Attorney's Office District of Colorado.

Dig deeper: Joshua Lybolt applied for and received $4,950,000 in COVID-19 Economic Injury Disaster Loans (EIDL) from the Small Business Administration (SBA) and $41,667 in Paycheck Protection Program (PPP) funds from an SBA-approved lender between April 2020 and August 2022.