A man from Miami, Florida has been accused of fraudulently getting Covid-19 relief funds and spending it on a 2020 Lamborghini Huracan.
29-year-old David Hines collected over $3.9 million through fraudulent loan applications and spent $318,000 on a new car.
Hines also made purchases at luxury stores and resorts.
According to officials, Hines had been charged with three felonies, making a false statement to a lending institution, bank fraud, and engaging in transactions with unlawful proceeds.
He could face up to 70 years in jail if found guilty, the New York Times reported.
The 29-year-old is alleged to have collected around $13.5 million through the US Paycheck Protection Program. His applications claimed he employed over70 workers and the bank approved three fraudulent applications.
A statement released by the Department of Justice reads: “The complaint alleges that Hines sought approximately $13.5m in PPP loans through applications to an insured financial institution on behalf of different companies.
“The complaint alleges that Hines caused to be submitted fraudulent loan applications that made numerous false and misleading statements about the companies’ respective payroll expenses. The financial institution approved and funded approximately $3.9m in loans.
“The complaint further alleges that within days of receiving the PPP funds, Hines purchased a 2020 Lamborghini Huracan sports car for approximately $318,000, which he registered jointly in his name and the name of one of his companies.
“In the days and weeks following the disbursement of PPP funds, the complaint alleges that Hines did not make payroll payments that he claimed on his loan applications. He did, however, make purchases at luxury retailers and resorts in Miami Beach.”
The scammer’s lawyer, Chad Piotrowski, said that his client was “a legitimate business owner who, like millions of Americans, suffered financially during the pandemic.”
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Replaced!