Florida man buys Lamborghini with $3.9 million from federal coronavirus loans

first_imgHines was arrested Friday after he was involved in a hit-and-run accident on July 11. Miami police impounded his car; prosecutors plan to seize it, according to the Herald. Hines faces charges of fraud. He was granted a $100,000 bond and will be allowed to stay at his mother’s home with a GPS monitor. Hines’ also used some of the money on dating website accounts, jewelry and clothing expenditures as well as reservations at high-end Miami Beach hotels such as the Fontainebleau and Setai, the Herald reported.The newspaper reported an investigation into Hines found he applied for an SBA loan of $13.5 million through Bank of America for his four South Florida moving business, claiming it would be spent on his 70 employees with a payroll of $4 million. Bank of America approved $3,984,557. However, authorities found Hines’ companies monthly revenue and expenses averages about $200,000. A Florida man has been arrested on bank fraud charges after prosecutors say, he used federal COVID-19 loans to buy a bright blue Lamborghini Huracan Evo.29-year-old David T. Hines of Miami received nearly $4 million in coronavirus federal loans to assist employees affected by the coronavirus, according to a report by the Miami Herald.His first purchase? A Lamborghini which costs $318,497. However, reports say the purchase was not on the list of permissible items under the Small Business Administration loan program.last_img

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