Officials: Man Lied to Get $ 3.9 Million in Coronavirus Loan, Used Money to Buy Lamborghini

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MIAMI (AP) – A South Florida man fraudulently obtained $ 3.9 million in federal coronavirus relief loans, using part of the money to buy a $ 318,000 Lamborghini Huracan, said prosecutors.

David T. Hines, 29, of Miami, was arrested and charged last week with bank fraud, making false statements to a financial institution and engaging in transactions with illegal products.

Defense lawyer Chad Piotrowski has said Hines is a legitimate business owner who is keen to tell his side of the story.

Hines asked a bank for about $ 13.5 million in Paycheck Protection Program loans on behalf of various companies, according to a criminal complaint. Fraudulent loan applications have been submitted over the companies’ respective salary expenses, investigators said. Hines was approved for $ 3.9 million, officials said.

Hines purchased the Lamborghini within days of receiving the money, prosecutors said. Instead of using the money to pay salaries, Hines shopped at luxury retailers and resorts in Miami Beach, officials said. Authorities seized the car and around $ 3.4 million when Hines was arrested.

The Paycheque Protection Program represents billions of dollars in repayable small business loans for Americans struggling due to the COVID-19 pandemic. It’s part of the Coronavirus Aid, Relief and Economic Security Act, which became federal law in March.

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