David T. Hines has found himself in some serious trouble after scamming millions of dollars worth of from the US government’s Payment Protection Program (PPP) coronavirus relief fund, according to a report from The Miami Herald.
Hines scammed his way to $3.9 million by filing for loans on behalf of different companies.
The 29-year-old from Miami has been charged with bank fraud, making false statements to a financial institution and engaging in transactions in unlawful proceeds.
After scamming millions of dollars in PPP loans, Hines started blowing the money on luxury items. Usually you would think to keep a low profile to avoid outing yourself, but within days Hines was the proud owner of 2020 Lamborghini Huracán which costs more than $300,000.
Hines also spent thousands of dollars on dating websites, jewelry, and clothes, according to the report. In total, Hines blew around $500,000 before he was caught.
So how was Hines finally caught? His Lamborghini was involved in a hit-and-run accident.
From the report:
Hines’ and other similar fraud cases are starting to pop up in South Florida and other parts of the country. The PPP loans are forgiven by the government if they are properly used by businesses. Congress is considering another major SBA loan infusion as the raging pandemic continues to hurt the U.S. economy.
Federal investigators linked the Lamborghini to Hines, who appeared in Miami federal court on fraud and other charges Monday, after he was involved in a hit-and-run accident on July 11. Miami police impounded his car, and now prosecutors plan to seize it.
They always say that there is no such thing as a smart criminal — especially one who is also a Florida man.
After being granted a $100,000 bond, Hines was released to his mother’s home where he will be allowed to stay with a GPS monitor. His arraignment hearing is scheduled for October 14.
