A Florida resident bought a Lamborghini with money from an anti-crisis fund

A Florida resident is accused of fraud, as a result of which he embezzled almost four million dollars intended for salaries during the coronavirus pandemic, according to the US Department of justice.

According to the investigation, 29-year-old David Hines applied to banks for assistance under the Federal program, which was conducted throughout the country. The young man, on behalf of various companies, requested loans totaling $ 13.5 million, indicating false data. In the applications, he noted that the funds are necessary for the salary of employees. As a result, Hines approved soft loans worth $ 3.9 million.

“Within days of receiving the funds, Hines purchased a 2020 Lamborghini Huracan sports car for approximately $ 318,000, which he registered jointly in his name and that of one of his companies. For several days and weeks after that, Hines did not make the salary payments that he claimed on his loan applications. Instead, he shopped at luxury stores and resorts in Miami Beach,” the report said.

It is clarified that at the time of the arrest, about $ 3.4 million remained in Hines ‘ account.

The law provided the “Wage Protection” program on assistance to victims of coronavirus. It allows small businesses and other organizations to obtain loans with a maturity of two years and an interest rate of 1%. The total size of the program is almost 670 billion dollars. The deadline for applications for it ends on August 8.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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