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Posted on 07/27/2020 9:20:11 PM PDT by yesthatjallen
A Florida man was arrested and charged with fraudulently obtaining $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a sports car for himself. Authorities seized a $318,000 sports car and $3.4 million from bank accounts at the time of arrest.
Acting Assistant Attorney General Brian C. Rabbitt of the Justice Department’s Criminal Division, U.S. Attorney Ariana Fajardo Orshan of the Southern District of Florida, Special Agent in Charge Kyle A. Myles of the Federal Deposit Insurance Corporation (FDIC) Office of Inspector General (OIG), Office of Investigation’s Atlanta Regional Office, Inspector in Charge Antonio Gomez of the U.S. Postal Inspection Service’s (USPIS) Miami Division, Special Agent in Charge Kevin A. Kupperbusch of the U.S. Small Business Administration (SBA)-OIG, Investigations Division, Eastern Regional Office, Special Agent in Charge Michael J. De Palma of the IRS-Criminal Investigation (CI) Miami Office, and Acting Special Agent in Charge Stephen Donnelly of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection-OIG, Eastern Region, made the announcement.
David T. Hines, 29, of Miami, Florida, was charged by criminal complaint, unsealed today upon his initial appearance before U.S. Chief Magistrate Judge John J. O’Sullivan in the Southern District of Florida, with one count of bank fraud, one count of making false statements to a financial institution and one count of engaging in transactions in unlawful proceeds.
The complaint alleges that Hines sought approximately $13.5 million in PPP loans through applications to an insured financial institution on behalf of different companies. The complaint alleges that Hines caused to be submitted fraudulent loan applications that made numerous false and misleading statements about the companies’ respective payroll expenses. The financial institution approved and funded approximately $3.9 million in loans.
SNIP
I wonder how he got caught!!
“I wonder how he got caught!”
By a Ferrari, obviously.
He should have claimed he was with Planned Parenthood. They received 80 million dollars from the Paycheck Protection Program (PPP). I think they refused to return the money and nothing happened to them.
What? A Lamborghini is an excellent way to avoid COVID. It’s far far better than some puny mask!
Now why didn’t I think of that?
Heck, I’d settle for a Dodge Hellcat
What did I tell you? What did I tell you? Don’t buy anything. Don’t get anything. Nothing big. What’s the matter with you?
Probably didn’t want to buy the same cars for other employees, so they ratted him out.
$4 million - busted. Just think how many BILLIONS of taxpayer dollars have been successfully misappropriated under this fabulous government program.
Was he driving around Jackson Hole?
“...Oversight? You expect oversight?...”
Naaa...not really.
The vile, demonic Botoxian made $7million by trading Amazon with insider congressional knowledge. No oversight there either. I guess she can now add another $24K fridge with more ice cream.
That and didn’t do his payroll as claimed....went luxaary shopping instead....
“The complaint further alleges that within days of receiving the PPP funds, Hines purchased a 2020 Lamborghini Huracan sports car for approximately $318,000, which he registered jointly in his name and the name of one of his companies. In the days and weeks following the disbursement of PPP funds, the complaint alleges that Hines did not make payroll payments that he claimed on his loan applications. He did, however, make purchases at luxury retailers and resorts in Miami Beach.”
Punishable by up to 30 years in prison and fines of up to $1,000,000 just for bank fraud alone.
He’s going to need a really good lawyer.
That fat ****. He ought to wear a sign
In two days one gets a caddy and one gets a $20,000 mink
:)
I would guess that every organized crime group is making a fortune.
The Italians, the Russians, the albanians. God knows how many others.
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