Miami man pleads guilty to using COVID loan for Lamborghini
A South Florida man has pleaded guilty to fraudulently obtaining $3.9 million in federal coronavirus loans and using some of the money to buy a Lamborghini Huracan. David Hines, of Miami, rubbed his forehead in apparent shame as he pleaded guilty to federal charges including bank fraud at a hearing Wednesday held via videoconference because of COVID-19 restrictions. The Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans struggling because of the pandemic. It’s part of the Coronavirus Aid, Relief and Economic Security Act, which became federal law in March. Use the form below to sign up for the ClickOrlando.com Strange Florida newsletter, sent every Friday.
Florida man buys Lamborghini with $3.9 million from federal coronavirus loans, prosecutors say
MIAMI – A South Florida man fraudulently obtained $3.9 million in federal coronavirus relief loans, using some of the money to buy a $318,000 Lamborghini Huracan, prosecutors said. Hines applied to a bank for approximately $13.5 million in Paycheck Protection Program loans on behalf of different companies, according to a criminal complaint. Hines bought the Lamborghini within days of the receiving the money, prosecutors said. The Paycheck Protection Program represents billions of dollars in forgivable small business loans for Americans struggling because of the COVID-19 pandemic. It’s part of the Coronavirus Aid, Relief and Economic Security Act, which became federal law in March.