Florida Man Used PPP Loans to Buy Lamborghini Huracan Evo: Feds
The 29-year-old previously owned another Lambo with the license plate “CASH IN.”
There have been many, let's say, questionable recipients of Paycheck Protection Program (PPP) loans recently. Big companies, companies who can probably afford not to take the loan, it's something of a mess. So it won't surprise you to hear that one David Hines of Miami, Florida ended up with $3.9 million of the government's money. More relevant to you and I, however, is that he spent $318,497.53 of it on a new 631-horsepower Lamborghini Huracan Evo. Other information pertaining to why he got the loans and what he spent the money on is also a bit sketchy, as The Smoking Gun highlights.
The 29-year-old, who has been charged with bank fraud and two other felonies, applied for seven separate PPP loans, receiving funds for 3 of the applications. And in case you aren't familiar, PPP loans are intended to be used by small business owners to keep their companies afloat, primarily through covering expenses like employee payroll. Hines claimed as many as 70 of his employees would be recipients of these newfound funds, however, records from the state show that his various companies (yes, there are multiple) had reported “no record of wage information paid to employees” from early-2015 up to the first quarter of 2020.
A few of the deposits were also made into accounts with a very low or negative balance. One account contained just 30 cents, while another was $31,369 in the red.
Speaking of the car, though, this is not actually Hines' first Lamborghini. While the new 5.2-liter V10-powered Huracan Evo he just bought is now in an impound somewhere, he had at least one other one back in 2018. According to The Smoking Gun, it had a license plate reading "CASH IN," a shortened version of Cash In Holdings, LLC, a business where Hines holds the position "Philanthropist."
Hines would later be taken into custody by police after claiming his girlfriend stole this car. He apparently resisted arrest, was tasered by the police, and ended up on probation after a plea deal.
Other PPP funds spent by Hines included $15,000 dollars sent to "Mom," charges to South Beach hotels, Saks Fifth Avenue, and the ultra-high-end jeweler Graff.
However, as bad as this all sounds, we're assured it's just a big misunderstanding according to Hines' attorney, Chad Piotrowski. He says “David is a legitimate business owner who, like millions of Americans, suffered financially during the Pandemic,” he said in a statement to The Washington Post. “While the allegations appear very serious, especially in light of the Pandemic, David is anxious to tell his side of the story when the time comes.”
We are also anxious to hear it.
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