Florida man accused of using COVID-19 relief funds to buy a $318K Lamborghini

A Florida man is facing federal charges after investigators say he used funds from the Paycheck Protection Program to purchase a Lamborghini. Federal prosecutors said Monday that David Hines, of Miami, sought approximately $13.5 million in Paycheck Protection Program loans through applications to an insured financial institution on behalf of different companies. Investigators said Hines made numerous false and misleading statements about the companies’ payroll expenses. He received approximately $3.9 million in loans.Hines, 29, not only filed fraudulent PPP applications, but also spent the money on a $318,497.53 Lamborghini Huracán EVO and other “luxury and personal items,” including nearly $5,000 at Saks Fifth Ave, more than $11,000 at two Miami-area hotels and a $8,530 purchase at Graff Diamonds, investigators say.”There does not appear to be any business purpose for most, if not all, of these expenses,” the criminal complaint reads. In the days and weeks following the disbursement of Paycheck Protection Program funds, the justice department complaint alleges that Hines did not make payroll payments, but he did make purchases at luxury retailers and resorts in Miami Beach.Hines 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.CNN contributed to this report.Related video: A 5-year-old boy who was pulled over in Utah told police he was on his way to California to buy a Lamborghini

A Florida man is facing federal charges after investigators say he used funds from the Paycheck Protection Program to purchase a Lamborghini.

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Federal prosecutors said Monday that David Hines, of Miami, sought approximately $13.5 million in Paycheck Protection Program loans through applications to an insured financial institution on behalf of different companies.

Investigators said Hines made numerous false and misleading statements about the companies’ payroll expenses. He received approximately $3.9 million in loans.

Hines, 29, not only filed fraudulent PPP applications, but also spent the money on a $318,497.53 Lamborghini Huracán EVO and other “luxury and personal items,” including nearly $5,000 at Saks Fifth Ave, more than $11,000 at two Miami-area hotels and a $8,530 purchase at Graff Diamonds, investigators say.

“There does not appear to be any business purpose for most, if not all, of these expenses,” the criminal complaint reads.

In the days and weeks following the disbursement of Paycheck Protection Program funds, the justice department complaint alleges that Hines did not make payroll payments, but he did make purchases at luxury retailers and resorts in Miami Beach.

Hines 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.

CNN contributed to this report.

Related video: A 5-year-old boy who was pulled over in Utah told police he was on his way to California to buy a Lamborghini