- Miami Businessman was sentenced to over 6 years in prison after pleading guilty to bilking nearly $4 million from the pandemic relief program.
- Bank of America approved three of his applications, totaling more than $3.9 million and one of his first purchases was a $318,000 Lamborghini.
- David T. Hines, 29, was involved in a hit-and-run accident last July, which actually helped investigators link the Lamborghini to him.
Jay Weaver from Miami Herald writes:
“A Miami businessman was sentenced to more than six years in prison Wednesday after pleading guilty to fleecing millions from a federal COVID-19 relief program and buying luxury items with the money, including a $318,000 Lamborghini Huracán Evo.
David T. Hines, 29, arrested last July, was ordered by a Miami federal judge to turn over the luxury Italian sports car and $3.4 million that he received in government loans.
Hines, who owned South Florida moving businesses, applied to the Bank of America for seven loans under a Small Business Administration program. The Payroll Protection Program (PPP) was meant to help struggling businesses during the coronavirus pandemic cover legitimate expenses, such as employee salaries. The PPP loans are forgiven by the government if they are properly used by businesses.
The SBA’s payroll program totaling nearly $650 billion was approved by Congress as part of the CARES Act after the coronavirus struck the nation in March 2020, but Hines’ and other similar fraud cases have been piling up in South Florida and other parts of the country.
In Hines’ case, Bank of America approved three of his applications, totaling more than $3.9 million. One of his first purchases was the Lamborghini, according to a criminal complaint. Prosecutor Michael Berger said Hines also used the loan money for dating websites, jewelry and clothes and for stays at high-end hotels such as the Fontainebleau and Setai on Miami Beach.
Last July, Hines was involved in a hit-and-run accident, which helped investigators link the Lamborghini to him…”
See full story here.