MIAMI, Fla. (WEAR) — Prosecutors say a Florida man fraudulently obtained $3.9 million in federal COVID-19 relief loans -- using some of the money to buy a Lamborghini.
David T. Hines, 29, of Miami, is charged with bank fraud, making false statements to a financial institution and engaging in transactions in unlawful proceeds. He faces up to 70 years in prison.
Hines applied to a bank for approximately $13.5 million in Paycheck Protection Program loans on behalf of different companies, according to a criminal complaint. Hines was approved for $3.9 million.
Hines bought the Lamborghini for $318,497 within days of receiving the money, prosecutors say. Authorities seized the car and about $3.4 million when arresting Hines.