Florida Business Owner Received $3.9 Million in COVID-19 Relief Money, Allegedly Spent it onLamborghini
By CBS News // July 30, 2020
(CBS) – Federal prosecutors are accusing a 29-year-old small business owner in Miami of spending some of the nearly $4 million in coronavirus relief aid he received from the government on a six-figure sports car, expensive jewelry and stays at luxury resorts.
Federal officials arrested the man, David T. Hines, on Monday, charging him in Miami Federal Court 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 Justice Department said in a press release.
After Hines obtained approval for three Paycheck Protection Program (PPP) applications and received more than $3.9 million in PPP loans, federal prosecutors allege he used those funds to go on a spending spree that included a 2020 Lamborghini Huracan that Hines bought for roughly $318,000 within days of receiving the government aid.
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