Investigators said David Tyler Hines was given nearly $4 million in loans under a program to help small businesses during the pandemic and then used the money for personal expenses.
A Florida man has been charged with bank fraud after lying on loan applications to help small businesses during the coronaviruspandemic and spending the money he received on luxury goods, including a Lamborghini, according to a criminal complaintreviewed by BuzzFeed News.
Federal prosecutors said David Tyler Hines, 29, applied for approximately $13.5 million in funds from the Paycheck Protection Program, which was established in March to provide small businesses with loans to pay employees during the pandemic. Congress approved $349 billion for the first round of PPP loans in March, and over $300 billion for a second round in April.
Hines claimed the funds were intended to pay employees of his businesses, but US postal inspectors said those employees either didn't exist or earned just a fraction of the pay he claimed.
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Who ever vetted his loan documents should also be charged.
ReplyDeleteGood for Him!
ReplyDeleteBet he isn't the only one. DR. Phil's company got 10 million or more. Then his son who works for him bought a house for 11 million cash the next day in California. Nothing like living the American dream. The rich get richer and the Walmart employees stay on assistance.
ReplyDeleteNancy Pelosi’s husband’s company received just under $4 million. However she claims it doesn’t benefit her....
ReplyDelete