A man from Florida, who received millions in coronavirus aid and spent the money on a brand new Lamborghini Huracán sports car, has been charged with fraud, U.S. officials said Monday.
According to the U.S. Department of Justice, David T. Hines, 29, received $3.9 million in federal coronavirus relief loans from the Paycheck Protection Program (PPP) and used the funds to buy the $318,000 luxury car and other fraudulent purchases.
Authorities claim that Hines requested $13.5 million in PPP loans on behalf of several companies and made several false statements regarding the companies' payroll expenses in each application.
He was detained by police and charged with three felonies. Hines is now facing charges over bank fraud, making false statements to a financial institution and engaging in transactions in unlawful proceeds.
The Paycheck Protection Program is a loan program designed to support small businesses in the U.S. amid the ongoing coronavirus pandemic and is part of the Coronavirus Aid, Relief and Economic Security Act, which became federal law in March 2020.
