Florida Man Charged With Fraud After Using $4M In COVID-19 Relief Loans To Buy Lamborghini
A Miami, Florida man has been arrested and charged with fraud after using $4 million in COVID-19 relief loans to fund a lavish lifestyle, including the purchase of a 2020 Lamborghini Huracan.
The Department of Justice announced this week that 29-year-old David T. Hines is facing one count of bank fraud, one count of making false statements to a financial institution, and one count of engaging in transactions in unlawful proceeds after he misused funds through the coronavirus Paycheck Protection Program (PPP).
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While he eventually received $3.9 million, initially, Hines attempted to apply for an estimated loan amount of $13.5 million, reportedly “through applications to an insured financial institution on behalf of different companies.” After receiving funds, within days he bought the new luxury car at $318,000, then made purchases at “luxury retailers and resorts” in the Miami Beach area.
Officials report that Hines also has a number of charges from separate incidents involving grand theft of a vehicle, and more.
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MUGSHOT: MIAMI-DADE COUNTY CORRECTIONS AND REHABILITATION DEPARTMENT
LAMBORGHINI: U.S. ATTORNEY'S OFFICE/FEDERAL COURT EXHIBIT
— Lauren Pozen (@LaurenPozenNews) July 28, 2020