Florida Man Busted Scamming $3.9 Million In Covid Relief Funds And Buying Lamborghini

Posted by on August 1, 2020 in Government, Politics with 0 Comments

Image Credit: The Mind Unleashed

By John Vibes | The Mind Unleashed

A man from Florida was arrested last week after he was caught scamming the COVID relief fund out of $3.9 million, and spending the money on a variety of different personal items and expenses. 29-year-old David T. Hines fraudulently applied for over $13 million in Paycheck Protection Program (PPP) loans for a few different companies.

The funds were intended to be used for rent or mortgage costs, employee salaries, and utilities, but Hines reportedly went on a shopping spree as soon as he got the money, purchasing a variety of luxury items, including a Lamborghini.

When Hines was arrested last week, over $3 million was seized from his bank account, along with the car and other expensive items he purchased after receiving the money.

In a statement announcing the charges, the US Department of Justice said, “A Florida man was arrested and charged with fraudulently obtaining $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a sports car for himself. Authorities seized a $318,000 sports car and $3.4 million from bank accounts at the time of arrest.”

On his applications, Hines claimed that he had a total of 70 employees with a monthly payroll of $4 million, but according to investigators, most of these employees didn’t exist, and the companies earned far less than was claimed.

According to the Miami Herald, U.S. Postal Inspector Bryan Masmela said that Hines’ companies showed monthly revenue and expenses averaging about $200,000, which is much less than the millions of dollars that he applied for.

“Those purported employees either did not exist or earned a fraction of what Hines claimed in his PPP applications. Collectively, Hines falsely claimed his companies paid millions of dollars in payroll in the first quarter of 2020. State and bank records, however, show little to no payroll expense during this period,” Masmela said.


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