Florida Man Used PPP Loans To Buy A Brand New $318,000 Lamborghini: DOJ

A Florida man has been charged with fraud by federal authorities after allegedly using money from the Paycheck Protection Program to buy a brand new Lamborghini. The Department of Justice has accused David T. Hines, 29, of fraudulently requesting $13.5 million in small business loans as part of the program meant to help small businesses struggling due to the coronavirus pandemic.

Hines allegedly filed claims for four companies, citing over $4 million in expenses to pay dozens of employees every month. He was approved for $3.9 million, but he never used it to pay anyone.

"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," the DOJ said in a statement. "He did, however, make purchases at luxury retailers and resorts in Miami Beach."

Prosecutors said a few days after receiving the money, he went out and purchased a brand new 2020 Lamborghini Huracan for $318,000. He registered it in his name and the name of one of the companies he runs. He is also accused of spending the money at resorts around Miami and on other luxury items.

Hines 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.

Hines' defense attorney, Chad Piotrowski, said his client is innocent and is a legitimate business owner who "suffered financially during the pandemic."

Photo: U.S. Attorney's Office