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Florida man accused of buying Lamborghini with COVID-19 relief funds

Federal prosecutors say 29-year-old David Hines also made purchases at luxury stores and resorts in Miami Beach.
Credit: AP Photo/Andy Wong
Staff members chat with visitors near the Lamborghini Huracan models on being displayed at the China Auto China in Beijing, Thursday, April 26, 2018.

MIAMI — Loans meant to help businesses get through the COVID-19 pandemic ended up in the pockets of a Florida man who used the money to buy a 2020 Lamborghini, prosecutors allege.

David Hines, of Miami, tried to get $13.5 million in Paycheck Protection Program, or PPP, loans through applications sent to an insured financial institution on behalf of several companies, according to a Department of Justice news release.

The 29-year-old reportedly made several false and misleading statements about the companies' payroll expenses and ended up with $3.9 million in loans.

Within days, prosecutors said Hines used the money to buy a $318,000 Lamborghini Huracan. He, too, allegedly didn't make payroll payments that he claimed on loan applications but did go out to luxury stores and resorts in Miami Beach to make a few purchases. 

Authorities seized $3.4 million in Hines' bank accounts and the Lamborghini at the time of his arrest, the release states. 

He is 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.

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