MIAMI – A South Florida man has pleaded guilty to fraudulently obtaining $3.9 million in federal coronavirus loans and using some of the money to buy a Lamborghini Huracan.
David Hines pleaded guilty Wednesday to federal charges including bank fraud. The hearing was held by videoconference because of COVID-19 restrictions.
Hines acknowledged receiving $3.9 million in federal government loans on behalf of different companies he managed, fraudulently claiming they’d be used to pay employees impacted by the pandemic.
Instead, authorities say, he used the proceeds to buy a $318,000 Lamborghini and run up bills at a jewelry store and a luxury Miami Beach hotel.
Sentencing is set for April.