Business A man who bought a Lamborghini with federal aid...

A man who bought a Lamborghini with federal aid from COVID-19 is arrested in the United States

Miami – A Miami man was arrested and faces criminal charges for bank fraud for requesting $ 13.5 million in soft loans from a federal aid program to victims of the COVID-19 in the United States, to buy, among other luxuries, a Lamborghini, the Prosecutor’s Office reported Monday.

David T. Hines, 29, was charged today by Judge John J. O’Sullivan with bank fraud, as well as making false statements to a financial institution and making illegal profits through bank transactions.

The defendant applied for about $ 13.5 million of so-called PPP (“Payroll Protection Program” in English) loans aimed at helping small businesses affected by the coronavirus to a financial institution and on behalf of different companies, according to the lawsuit.

“Within days of receiving the PPP funds, Hines purchased a 2020 Lamborghini Huracan sports car for about $ 318,000, which he jointly registered in his name and the name of one of his companies,” said the US District Attorney for the Southern District of Florida. He stressed that in the days and weeks after the PPP funds were disbursed, Hines failed to make the due payroll payments and went “shopping at luxury stores and resorts in Miami Beach.”

Federal PPP credits can be forgiven if companies spend most of the money rehiring their workers at the same wages as before the pandemic and, if not met, they could be returned within two or five years at a rate of interest less than 1%. Florida, a state that focuses its economy on tourism, has suffered a severe blow from the COVID-19 pandemic and faces a high unemployment rate. In this state, the second with the highest incidence of the virus in the country after California, confirmed cases reached 432,747 on Monday, while deaths have totaled 6,049 since March 1.



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