Florida man buys Lamborghini with $ 3.9 million in federal coronavirus loans, prosecutors say

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

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

Defense attorney Chad Piotrowski said Hines was a legitimate business owner eager 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 bought the Lamborghini days after receiving the money, prosecutors said. Instead of using the money for payroll payments, Hines made purchases at luxury retailers and Miami Beach resorts, officials said. Authorities seized the car and around $ 3.4 million when Hines was arrested.

The Paycheque Protection Program represents billions of dollars in forgivable 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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