Feds charge Florida man with fraud for buying Lamborghini with COVID relief funds

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Feds charge Florida man with fraud for buying Lamborghini with COVID relief funds

Post by IceCube » Wed Jul 29, 2020 3:14 am

A Florida man was charged with fraud Monday after receiving $3.9 million in loans from the Paycheck Protection Program to buy himself, among other things, a Lamborghini sports car, authorities said.

David T. Hines of Miami, Florida, 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, according to a statement released by the U.S. Department of Justice.

Authorities allege that Hines, 29, applied on behalf of a few companies for $13.5 million in loans provided by Paycheck Protection Program, which was designed to keep small businesses afloat amid the coronavirus pandemic.

The complaint also alleges Hines lied about the amount paid to employees. Instead, he used the funds to shop at luxurious stores and resorts in Miami Beach, according to the statement.

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♫ There he goes / the perp in the bright orange sports car / Bought with PPE funding / Some old lady called the feds / Said that the money was probably stolen ♪

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