A man from Florida has been accused of fraud with bank post fabricating for getting loans for small businesses amidst the ongoing pandemic and using the money for getting plush goods.
The federal attorney stated that David Tyler Hines 29, received a loan for a whopping sum of $13.5 million from the Paycheck Protection Program which began in March to cater to small businesses with funds to pay staff amidst pandemic. Congress has sanctioned $349 billion for the initial round of PPP loans in March and about $300 billion for the next in April.
Hines stated that the loans were got to give it to employees of his business which was later found by the US postal cops that his staff never existed.
But Hines was given $4 million in three steps with less interest which he in turn used to pay his personal expenses on Jewelry, Miami beach resorts, dating sites, and on a Lamborghini Huracán Evo which comes for a price of $318,000 as per prosecutors.
David had also stated in his for that he was the manager or the president of 4 firms situated in Miami for which he had 70 people working on a monthly basis of $4 million as per the charges. But authorities said that the State of Florida had no record of any payments to employees of Hines firm from 2015 to 2020 first quarter.