Florida man uses Covid relief funds to buy himself a new Lamborghini
Florida Man, America's most beloved super-hero, strikes again
David T. Hines, 29, of Miami, Florida, was arrested and charged with fraudulently obtaining $3.9 million in Paycheck Protection Program (PPP) loans through the CARES Act. The CARES Act, passed in March, was intended to provide up to $949 billion in forgivable loans to small businesses for job retention and other expenses impacted by the Covid-19 pandemic. Hines allegedly applied for $13.5 million in PPP loans on behalf of different companies, and was ultimately approved for $3.9 million through the program.
According to the US Department of Justice, Hines bought a brand new $318,000 Lamborghini Huracan literally days after receiving his loan. He even registered the car jointly in his name and in one of his companies. In case you haven't guessed it yet, they allege Hines did not use the funds for his companies's payroll payments for which the loans were intended. Authorities seized the Huracan and $3.4 million from Hines's bank account at the time of the arrest. He has been 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. Now some poor Lamborghini is sitting in an impound lot somewhere near Miami. Never change, Florida.