Florida man charged in federal court for using coronavirus relief funds to buy himself a brand-new Lamborghini
David T. Hines of Miami, Florida, was charged in Miami federal court on Monday for fraudulently obtaining $3.9 million in PPP loans.He also apparently went on a "spending spree" and bought "luxury jewelry, expensive clothes," The New York Times reports.David T. Hines, a 29-year-old man in Miami, Florida, was charged in federal court recently for fraudulently obtaining $3.
PPP loans are part of the CARES Act, a federal law that was enacted on March 29. Its aim is to give emergency financial help to millions of Americans affected economically during the ongoing COVID-19 pandemic. Through PPP, qualifying small businesses can apply for forgivable loans in order to cover expenses like job retention, payroll costs, mortgage interest, rent, and utilities.
After he received the funds, the complaint says that Hines didn't make the payroll payments he said he would on his loan applications. Instead, he apparently went on a "spending spree" for "luxury jewelry, expensive clothes, visits to resorts in Miami Beach and expenses on dating websites," according to The New York Times.Mr. Hines made two payments in May totaling $30,000 to a person listed as "Mom," officials said.
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