Florida Man Under Fire For Using COVID Relief Loans To Buy Lamborghini

A Florida man faces sentencing in April after pleading guilty to wire fraud in relation to the use of stimulus funds to purchase a Lamborghini.

David T. Hines, a 29-year-old from Miami, pleaded guilty to using part of a $3.9 million loan from the Paycheck Protection Program to by himself a 2020 Lamborghini Huracan sports car for $318,000.

The Justice Department stated that Hines admitted to falsifying claims for the loan and using the funds for personal expenses.

“As part of his guilty plea, Hines admitted that he fraudulently sought millions of dollars in PPP loans through applications to an insured financial institution on behalf of different companies,” the Justice Department explained. “Hines caused to be submitted fraudulent loan applications that made numerous false and misleading statements about the companies’ respective payroll expenses.”

PPP is a low-interest loan program meant to support the continuity of small-business operations during the pandemic.

There have been several other cases related to PPP fraud since the program was passed in March as part of the CARES Act, a $2.2 trillion stimulus package.

A businessman from Texas and another in Florida last year used PPP to finance luxury vehicles, including a $200,000 Lamborghini Urus, among other expenses.

A 2020 staff report from a House select committee reviewing PPP loans found billions of dollars in federal relief funds were abused. There were some tens of thousands of instances where borrowers received more than one loan in violation of the language of the bill that created the program.

According to The Miami Herald, Hines was released on $100,000 bond after his July arrest. The luxury sports car as well as $3.4 million from his various accounts were seized by federal authorities.