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Crime Florida man fraudulently obtained $3.9 million in PPP loans and used some of it to buy Lamborghini, feds say

07:15  28 july  2020
07:15  28 july  2020 Source:   thehill.com

David Tyler Hines spent PPP funds on hotels, jewelry and $318,497 Lamborghini, authorities say

  David Tyler Hines spent PPP funds on hotels, jewelry and $318,497 Lamborghini, authorities say A Florida man has been charged with bank fraud for allegedly lying on PPP loan applications and spending the money on luxury items such as a Lamborghini Huracán EVO, federal authorities say. © Obtained by CNN Hines purchased a 2020 Lamborghini Huracán sports car for for more than $318,000.00 Funds from the $521 billion Paycheck Protection Program are destined for small businesses so that they're able to keep workers on payroll throughout the coronavirus pandemic. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

According to a new indictment from federal prosecutors in California, a man fraudulently obtained nearly $ 9 million in loans and spent hundreds of thousands of dollars on gambling. And according to another set of charges Thursday, a woman in Arkansas fraudulently got million and used some

Duping the Fed . Prosecutors said that Marnell obtained the loans through applications to insured All the applications were made by using fraudulent and false documents and identifications that were Small businesses and other organizations qualify for the PPP to receive loans with a maturity of two

A Florida man has been arrested and is facing charges after federal prosecutors say he "fraudulently" obtained nearly $4 million in Paycheck Protection Program (PPP) loans and used some of the money to buy a Lamborghini sports car.

a man looking at the camera: Florida man fraudulently obtained $3.9 million in PPP loans and used some of it to buy Lamborghini, feds say © Miami-Dade County Department of Corrections Florida man fraudulently obtained $3.9 million in PPP loans and used some of it to buy Lamborghini, feds say

David Hines, 29, of Miami, was charged with one count of bank fraud, one count of making false statements to a financial institution and one count of engaging in transactions in unlawful proceeds, the Department of Justice (DOJ) announced in a press release on Monday.

29-Year-Old Fla. Man Who Got $4M in COVID-19 Relief Funds Buys $318K Lamborghini: Officials

  29-Year-Old Fla. Man Who Got $4M in COVID-19 Relief Funds Buys $318K Lamborghini: Officials David T. Hines allegedly lied about his monthly payroll expenses on his PPP loan applications, and spent the relief money he received on a luxury car and high-end hotelsDavid T. Hines, 29, was charged with bank fraud, engaging in transactions in unlawful proceeds and making a false statement to a lending institution, according to an affidavit filed in the U.S. District Court for the Southern District of Florida.

A Beverly Grove man was being held without bond Thursday after being arrested on federal charges alleging that he fraudulently obtained millions of dollars in Paycheck Protection Program loans , the U.S. Department of Justice announced.

A Beverly Grove man was being held without bond Thursday after being arrested on federal charges alleging that he fraudulently obtained millions of dollars in Paycheck Protection Program loans , the U.S. Department of Justice announced.

The office said a complaint filed against he man alleges he fraudulently obtained $3.9 million in PPP loans, which were intended to help support small businesses and other organizations hit by the COVID-19 pandemic, after initially seeking roughly $13.5 million 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 $3.9 million in loans," the office stated.

After being approved for a fraction of the amount by a financial institution, he allegedly spent roughly $318,000 on a 2020 Lamborghini Huracan sports car and registered the vehicle 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 DOJ said in the release.

The department said authorities seized the sports car and $3.4 million from bank accounts at the time of Hines' arrest.

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