Uncle Sam Now Owns A 2020 Lamborghini

JULY 27--A Miami man defrauded the government out of nearly $4 million in emergency Paycheck Protection Program funds and used part of the windfall to pay for a $318,000 Lamborghini sports car that can top 200 mph, according to federal investigators.

David Hines, 29, has been charged with bank fraud and two other felonies, according to a criminal complaint unsealed today in U.S. District Court.

Federal agents allege that Hines submitted seven separate loan applications to Bank of America seeking a total of $13.5 million in PPP payments that are intended to be used to retain workers, maintain payroll, and cover other business expenses in the face of the financial devastation caused by the COVID-19 pandemic.

Three of Hines’s loan applications were approved, with Bank of America depositing $3.984 million into several of his corporate accounts. One of the accounts receiving the federal infusion contained 30 cents, while another carried a negative balance of $31,369.

While Hines (seen at right) claimed the money would go to at least 70 workers, state records revealed that his firms had reported “no record of wage information paid to employees” from early-2015 though the first quarter of 2020.

Instead, a review of Hines’s bank accounts showed that he used PPP funds to pay $318,497.53 for a 2020 Lamborghini Huracán Evo. The vehicle, purchased from a North Miami Beach dealership, was registered jointly in Hines’s name and that of one of his companies.

Other payments drawn on Hines’s accounts went to South Beach hotels, Saks Fifth Avenue, and the jeweler Graff. A payment to “Mom” for $15,000 was made in late-May. Other smaller outlays in May and June covered “rideshare and food delivery services,” according to the complaint.

After sniffing out Hines’s alleged frauds, federal investigators seized his bank accounts, which still contained $3.46 million in PPP funds. The Lamborghini is now also in the government’s possession.

Hines is free on $100,000 bond and has been ordered by a judge to wear a GPS monitoring unit while residing with his mother.

Hines was arrested in October 2018 when he became combative with Miami Beach police after reporting that his girlfriend had stolen his black Lamborghini (which carried “CASH IN” vanity license plates). Hines, who was tasered by cops, was subsequently placed on probation following his plea to a resisting count.

Hines’s rap sheet also includes a conviction for battery. He is currently facing a probation violation charge in connection with the resisting case, and a separate misdemeanor trespassing count that was filed earlier this year in Miami-Dade County.

The LinkedIn page for Hines, a nightlife regular in Miami Beach, describes him as a high school dropout and “Philanthropist at Cash In Holdings, LLC” whose various companies provide moving and relocation services. In an "About" statement, Hines notes that, “My desire to seek truth remains unappreciated by those who never know the answers to my questions. If there’s a rule that I don’t want to follow, I question it’s value.” (4 pages)