Florida man charged with fraud for using US$3.9m Covid-19 relief fund to buy Lamborghini
Tuesday, 28 Jul 2020 01:57 PM MYTDavid Hines was charged for fraudulently using a PPP loan to purchase a Lamborghini Huracan sports car. — Pexels.com pic
According to a statement by the US Department of Justice, the PPP allows small businesses and other organisations to receive loans for payroll costs, interest on mortgages, rent and utilities. Hines, 29, who hails from 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, according to the statement.
CBS News reported that initially Hines wanted to borrow a total of US$13.5 million through applications on behalf of different companies which included false statements about employee payroll expenses.
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