One of the first arrests related to misusing COVID relief funds has officially been sentenced. David Tyler Hines has received six years in prison for scamming to receive $3.9 million in PPP loans to purchase an expensive Lamborghini.
When the COVID-19 relief bill passed, the federal government essentially cared more about getting funds to people quicker than vetting who really needed them. This is mainly because it is the government, so they can go back and check later and then lock everyone up who lied.
One of the first big cases of misusing the funds happened in Miami, Florida, where David Tyler Hines received $3.9 Million in funds and purchased a brand spanking new Lamborghini. According to the Department Of Justice, his scamming has earned him six years behind bars.
A Florida man was sentenced today to more than six years in prison for fraudulently obtaining approximately $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a $318,000 Lamborghini luxury car for himself.
David T. Hines, 29, of Miami, pleaded guilty to one count of wire fraud on Feb. 10. According to court documents, Hines submitted multiple PPP applications to a PPP-participating lender, claiming to have had dozens of employees and millions of dollars in monthly payroll. In addition to submitting false and fraudulent IRS forms to support the applications, Hines also assisted other individuals in obtaining fraudulent PPP loans. As part of the sentence, the court ordered Hines to forfeit the $3.4 million in fraudulent loan proceeds that law enforcement seized and the 2020 Lamborghini Huracan that Hines purchased for approximately $318,000.
Six years makes the perfect example out of him and those still trying to secure loans to live out the lavish Instagram life they always wanted. It’s not worth it. This is the government that you are playing with, they always win.