A man in Florida has been charged after allegedly ripping off the government’s coronavirus Paycheck Protection Program and using the money to buy a Lamborghini Huracan.

According to the U.S. Department of Justice, 29-year-old David T. Hines of Miami submitted various fraudulent loan applications making numerous false and misleading statements about the payroll expenses of his companies.

In fact, rather than applying for loans to cover roughly $200,000 of his monthly business expenses, Hines submitted four applications through Bank of America claiming combined monthly expenses of $4 million to pay 70 employees. Three of the four submissions were approved and the government soon made the first of three planned deposits of $3,984,557 into Hines’ Bank of America account.

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Within days of receiving almost $4 million, authorities allege Hines purchased a 2020 Lamborghini Huracan Evo for $318,497. He also transferred $60,000 to a person listed as ‘Mom’, spent $4,000 at Saks Fifth Avenue, $8,500 at the Graff jewelry boutique, and a further $7,000 at Miami’s Setai hotel.

Authorities came sniffing after Hines got into a hit-and-run accident in his Lamborghini back in July, leading Miami police to impound the Italian exotic. The incident caught the attention of authorities and the FDIC-OIG, USPIS, IRS-CI, SBA-OIG, the Board of Governors of the Federal Reserve System, and the Bureau of Consumer Financial Protection-OIG were soon able to determine what Hines had done.

The complaint alleges that Hines did not make any of the payroll payments that he claimed on his loan applications. He has been charged 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.

Note: Stock Lamborghini images used