David Hines, accused of fraudulently obtaining $ 3.9 million in federal aid for companies affected by it COVID-19 and using some of the money to buy a Lamborghini car and indulge in other luxury indulgences, he pleaded guilty to a South Florida court.
The hearing was held this Wednesday via Zoom and it has been decided that Miami resident Hines will face a sentence next April, local media reported Thursday.
Hines’ case had a strong resonance in Florida, a state badly affected by the pandemic economically, where there were many complaints about the difficulty and slowness of the procedures for obtaining federal aid.
Van Hines, who was 29 when he was arrested last July, authorities seized a Lamborghini Huracán worth $ 318,000 and $ 3.4 million in bank accounts.
According to information provided by the prosecution when he was arrested, Hines requested the non-refundable Payroll Protection Program (PPP) credits on behalf of several companies to pay their employees’ wages during the closure of operations due to the pandemic.
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Hines was charged with one bank fraud, another false reporting to a financial institution and a third illegal profit transactions.
Apparently he has applied for grants from the PPP program of up to $ 13.5 million on behalf of several companies and managed to pay out $ 3.9 million through a financial institution.
But he raised suspicion, and an investigation found that he had paid no salary, but paid for the purchase of luxury properties and for stays in Miami Beach hotels.