With the world struggling under the weight of the COVID-19 pandemic and shutdowns affecting the U.S. economy, the government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March. This act includes the Paycheck Protection Program (PPP), designed to help small businesses retain their employees. Funds used to cover payroll, mortgages, rent, or utilities would be forgiven, as long as staff had been retained. The loan was not intended for sports car purchases. One person in Florida used PPP funds to buy a $318,000 Lamborghini Huracan, which quickly got him arrested.
PPP fraud and a 2020 Lamborghini Huracan
David T. Hines, 29, of Miami, Florida, who is accused of misusing PPP money, either shouldn’t have received PPP funds or shouldn’t have received as much as he got. Hines allegedly submitted PPP applications for four different businesses for which he had to inflate or fabricate payroll expenses.
The fake information qualified him for loans worth millions of dollars. He ended up receiving $3.9 million of the $13.5 million he requested. Soon after receiving the funding, Hines started making purchases at dating websites, luxury retailers, and resorts in Miami Beach; he bought a 2020 Lamborghini Huracan worth $318,000 and squirreled away $3.4 million in bank accounts. One thing Hines did not do was to make payroll expenses out of the PPP funding.
PPP funds do not cover buying this Lamborghini. It’s clearly not part of payroll or rent and mortgage. In addition to the Lamborghini Huracan, the criminal complaint from the Department of Justice mentions expenses for “mom” ($15,000 apiece), “Graff Diamonds” ($8,530), and Hines himself (the Lamborghini plus tens of thousands of dollars).
Hines had registered the car jointly to himself and one of his companies. The car was involved in a hit-and-run accident on July 11 and has now been seized. The Department of Justice in the Southern District of Florida charged Hines 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.
Hines, who purchased the car in May, was arrested at the end of July, according to the Miami Herald. He is currently out on a $100,000 bond.
The 2020 Lamborghini Huracan
MotorTrend points out that the Huracan is Lamborghini’s entry-level sports car. Hines could have committed an even more expensive fraud and purchased the Aventador or Urus. The Huracan is also smaller than these two Lamborghinis.
The 2020 Huracan has a six-figure starting price of $264,969, and Car and Driver describes the car as having “head-turning looks.” It has fabulous acceleration but is still fun to drive at ordinary speeds as well.
Its naturally aspirated 5.2-liter V10 engine is offered with either rear-wheel or all-wheel drive and creates plenty of sound. The engine produces 602 hp in rear-wheel-drive models and 631 hp in all-wheel-drive models. It’s paired with a seven-speed dual-clutch automatic transmission.
The 2020 model offers a few new features. A new EVO design has arrived, and a rear-wheel-drive model is now available. The 2020 base model has an updated infotainment system, which is compatible with Amazon Alexa.
There are many paint options and interior packages to help give the Huracan a custom look. The interior can be finished with different colors and materials. The partially floating center console displays toggle switches and a push-button shifter. There’s very little storage in the cabin though, and the trunk, which is located in front of the cabin, is small too.
The infotainment system features an 8.4-inch touchscreen and is also compatible with Apple CarPlay along with Amazon Alexa. While the Huracan doesn’t provide the usual driver-assist features, it does include features to help drivers retain control when driving really fast.
The 2020 Lamborghini Huracan is clearly a fantastic car to own and drive, but using funds allegedly secured through fraud is certainly not the best way to purchase one.