Florida man charged with using PPP funds to buy a $300,000-plus Lamborghini
"Instead of funding payroll, HINES spent the PPP money on personal expenses at dating websites, luxury jewelry and closing retailers, and Miami Beach resorts," DOJ criminal complaint alleges.
A Florida man is being charged with spending hundreds of thousands of dollars in pandemic aid that he received through the Paycheck Protection Program (PPP) to purchase a Lamborghini Huracan sports car, according to the U.S. Department of Justice (DOJ).
The criminal complaint alleges that David T. Hines of Miami requested about $13.5 million worth of PPP loans and was granted more than $3.9 million of loans.
"Instead of funding payroll, HINES spent the PPP money on personal expenses at dating websites, luxury jewelry and clothing retailers, and Miami Beach resorts," the complaint claims.
It also alleges that the man used PPP money to buy the Lamborghini for $318,497.53.
"The complaint alleges that Hines caused to be submitted fraudulent loan applications that made numerous false and misleading statements about the companies’ respective payroll expenses," the DOJ said in a press release.
"David T. Hines, 29, of Miami, Florida, was charged by criminal complaint, unsealed today upon his initial appearance before U.S. Chief Magistrate Judge John J. O’Sullivan in the Southern District of Florida, 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," the DOJ noted.
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