A Florida man has been charged with fraud and several other criminal offenses after purchasing a Lamborghini with COVID-19 relief funds.
29-year-old David T. Hines reportedly received $3.9 million from the Paycheck Protection Program, though he applied for about $13.5 million in aid. The program was enacted on March 29th to provide small businesses with forgivable loans. All funds were meant to be used for mortgage costs, utilities, and employee salaries during the pandemic. On Friday, he was arrested and subsequently charged on Monday, according to a statement by the Department of Justice. In addition to the Lambo, authorities seized over $3 million from his bank accounts.
“Those purported employees either did not exist or earned a fraction of what Hines claimed in his PPP applications,” U.S. Postal Inspector Bryan Masmela says in an affidavit, according to the Miami Herald. “Collectively, Hines falsely claimed his companies paid millions of dollars in payroll in the first quarter of 2020. State and bank records, however, show little to no payroll expense during this period.”
A few days after receiving the $3.9 million, he purchased the sports vehicle for $318,000. He also allegedly splurged on luxury stores and resorts.
Hines was in federal custody over the weekend. However, he has since been released on bond. He is scheduled to be arraigned on October 14th.
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