A Florida man has allegedly scammed almost $4 million from the government’s COVID-19 and spent some of the money on a brand-new Lamborghini and various luxury items.
David T. Hines has been charged with bank fraud, making false statements to a financial institution and engaged in transactions in unlawful proceeds in a criminal complaint unsealed Monday according to The New York Post. Hines of Miami initially attempted to get $13.5 million from the Payment Protection Program through applications on behalf of several companies, by saying they needed the funds to pay employee payroll. However, it turns out “those purported employees either did not exist or earned a fraction of what Hines claimed in his PPP applications,” the affidavit says.
The bank would later approve three of the loans equaling $3.9 million. A few days after getting the money Hines reportedly bought a 2020 Lamborghini Huracán valued at more than $318,000. Hines also spent thousands of dollars on dating websites, jewelry and clothes and rooms at hotels in Miami Beach.
Federal investigators linked the sports car to Hines after he was involved in a hit-and-run incident on July 11, The Miami Herald reported.
The bank froze Hines’ companies’ accounts on June 24, and where they found a balance of $3,463,162.
Hines was arrested and granted release on $100,000 bond during his first court appearance. He will be allowed to stay at his mother’s home with a GPS monitor. Hines arraignment is scheduled for Oct. 14.
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