Home Madrid Economy Miami man allegedly used fraudulent $3.9 million PPP loan to buy Lamborghini

Miami man allegedly used fraudulent $3.9 million PPP loan to buy Lamborghini

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On his LinkedIn pageDavid Hines has spent seven paragraphs explaining his personal philosophy, using the kind of vague but ambitious language that will sound familiar to anyone who’s spoken with a wild-eyed stranger while the two of you waited for the one-cabin bathroom. ‘a nightclub.

“If I am forced to exist in this system and expected to follow a set of rules, many of which I don’t care about, then I will definitely expect you to give me a good reason and that you understand why I should do what you want me to do, instead of what I know for sure is right,” the 29-year-old from Miami wrote.

The US Department of Justice recently gave Hines “a good understanding” of what he should have done or, more specifically, what he shouldn’t have done. According a criminal complaint which was unsealed on Monday, Hines was charged with one count of bank fraud, one count of making false statements to a financial institution and one count of conducting transactions for an unlawful purpose because he allegedly accepted $3.9 million under a fraudulent paycheck protection program. (PPP) of the US government. If convicted of all three crimes, he could spend up to 70 years in prison.

The complaint also alleges that, just days after those seven figures reached his bank account, Hines spent $318,497 on a 2020 Lamborghini Huracán EVO and dropped thousands more at swanky Miami hotels in Saks Fifth Avenue and at a luxury jeweler. He also sent at least $30,000 to someone identified only as “Mom.”

Hines is accused of submitting requests for $13.5 million in pandemic-related relief funds through the Small Business Administration, which he says would be used to cover “millions of dollars” of payroll expenses for his four companies. He was approved for $3,984,557 in PPP loans, but instead of paying his employees, Hines reportedly spent that money on “dating sites, luxury jewelry, clothing retailers and Miami Beach resorts.” . And yes, the Lambo, which was registered in his name and in the name of one of his companies.

Hines has four companies registered with the Florida State Division of Corporations: Unified Relocation Solutions; Promaster Movers, Inc.; Cash-In-Holdings, Inc.; and We-Pack Moving, LLC. Justice Department investigators found there was ‘no record’ of websites for any of these companies, but Promaster Movers and We-Pack Moving both received F ratings from the Better Business Bureau . “Virtually all of the reviews include complaints related to bait-and-switch practices and other deceptive activities,” the complaint said in a gloriously sarcastic footnote.

In its P3 applications, Hines said the four companies employed a total of 70 people and had a collective payroll of $4 million per month. But after receiving the loans, he paid “at most” 12 people, and none of those payments exceeded $3,000. (The Florida Department of Revenue also had no record of Hines reporting salary information for any of its so-called workers for the past five years, but that appears to be the least of its problems at this point. moment.)

“David is a legitimate business owner who, like millions of Americans, has suffered financially during the pandemic,” Hines’ attorney Chad Piotrowski said. Told the Washington Post. “While the allegations seem very serious, especially in light of the pandemic, David is eager to tell his side of the story when the time comes.”

The Miami Herald reports that the Lamborghini was connected to Hines on July 11, when he and the car were involved in a hit-and-run accident. The car was seized by federal authorities and it will remain in their possession.

This is actually Hines’ second Lamborghini-related arrest. In October 2018, Hines arrested a police officer and reported that his girlfriend stole his sports car. She and the vehicle were both found nearby, but the couple became “uncooperative”. according NBC6, and fled the scene. He was charged with assaulting an officer and resisting arrest, while she scored a corresponding charge for resisting arrest, as well as possession of a controlled substance.

After receiving his latest trio of felonies, Hines was jailed for the weekend, but has since been released on $100,000 bail, fitted with a GPS monitor and sent to his mother’s house.

As of this writing, Hines’ LinkedIn page has been taken down. He had listed his profession as “Philanthropist”.