MIAMI – A South Florida man plead guilty to fraudulently obtaining $3.9 million in federal coronavirus Paycheck Protection Program loans and using $300,000 of it to buy a Lamborghini Huracan.
29-year-old David Tyler Hines pleaded guilty by videoconference Wednesday to federal charges including bank fraud. He acknowledged receiving $3.9 million in federal government loans by filing seven claims for several companies he managed, fraudulently claiming they’d be used to pay employees impacted by the pandemic. Three of the claims were paid out.
Instead, authorities say, he used the relief funds to buy a $318,000 Lamborghini, high-end jewelry, clothes and at Miami Beach resorts.
The sports car has been seized along with $3.4 million.
Hines’ sentencing is set for April.