Florida man accused of using COVID-19 relief funds to buy Lamborghini

National News

A logo of the carmaker is displayedon a Lamborghini sport car parked on May 7, 2013 in front of Milan’s Sforza castle in Milan on the eve of the first leg of a 1,200km Grand Tour through Italy to mark the 50th anniversary of the carmaker. Over 1,200 km of Italian countryside will form the backdrop for hundreds of Lamborghinis, from unforgettable historic GTs to the latest futuristic supercars, which will arrive from every part of the globe and parade through the most beautiful cities in Italy until May 11 when they will reach their final destination, Bologna. (OLIVIER MORIN/AFP via Getty Images)

MIAMI (WFLA) — A Florida man has been charged with obtaining $3.9 million in Paycheck Protection Program loans and using it to buy a sports car and other luxury items in Miami Beach.

The U.S. Department of Justice said a criminal complaint was made against 29-year-old David T. Hines of Miami, Florida. The complaint alleges that Hines sought approximately $13.5 million in PPP loans on behalf of different companies and made numerous false statements to do so.

Hines was approved and awarded $3.9 million in loans.

The complaint further alleges that within days of receiving his PPP funds, Hines purchased a 2020 Lamborghini Hurican sports car for approximately $318,000. The 29-year-old is also accused of not making the payroll payments he claimed on his loan applications. He did, however, allegedly make purchases at luxury stores and resorts in Miami Beach.

Authorities seized the Lamborghini and $3.4 million from various bank accounts upon Hines’ arrest.

PPP funding is one source of relief provided by the Coronavirus Aid, Relief and Economic Security (CARES) Act enacted on March 29. The act authorized up to $349 billion in forgivable loans to small businesses for job retention and certain other expenses through the PPP. Congress approved an additional $300 billion toward PPP in April.

Hines was charged with 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.

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