A Miami man was arrested and charged after he bought a Lambo with the Paycheck Protection Program (PPP) loans.
“David Hines, 29, was 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.”
Hines asked for $13.5 million in PPP loans and got $3.9 million because he was making numerous false statements about payroll expenses.
He used the money to buy a $318,000 2020 Lamborghini Huracan sports car for himself. Authorities later seized the car and money from bank accounts!