Florida Man Uses $4 Million From Coronavirus Relief Fund To Buy A Lamborghini

 - Sakshi Post

The dangerous coronavirus is creating a lot of problems for the people. Many have lost their jobs and people across the world are dealing with financial difficulties. In order to help employees with some financial assistance during these hard times, many small firms in the US are now being given coronavirus relief fund through Paycheck Protection Program loans.

Now, the news is that a man in Florida received nearly USD 4 Million of COVID-19 federal loans to protect the payroll of employees. But he used it to buy some of the luxury goods including a Lamborghini sports car.

David Hines, a 29-year-old on behalf of many firms, applied for PPP loans of approximately USD 13.5 million. He used some of his coronavirus aid money and bought himself a Lamborghini Huracan EVO, which costs around $318,000.

He also invested $4,600 on luxurious hotels and resorts in Miami Beach. After the incident, Hines was charged with "bank fraud, making false statements to a financial institution and engaging in transactions in unlawful proceeds."

Hines' applications for loans have been accepted by the Bank of America. According to the reports, Hines claimed that the monthly payroll expenses of 70 employees amounted to USD 4 million and he was paid USD 3,984,557.

His account information of the previous months have been checked and they indicated inflows and outflows of USD 200,000 per month. Payments, such as payroll costs, were rendered to just 12 individuals in limited quantities.

The prosecutor said that, "Within days of receiving the PPP funds, Hines purchased a 2020 Lamborghini Huracan sports car for approximately USD 318,000, which he registered jointly in his name and the name of one of his companies."

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