A man in South Florida is making headlines after he was caught allegedly using federal loans meant to provide coronavirus relief to businesses to purchase a $300,000+ Lamborghini vehicle. The man has been charged with providing false statements, bank fraud, and participating in unlawful transactions.
Per a criminal complaint, the man applied with a bank for over $13 million in Paycheck Protection Program loans in support of different businesses. Dishonest applications for loans were submitted regarding the respective payroll expenses of the businesses, according to investigators. Officials said the man received approval for nearly $4 million.
According to prosecutors, the man purchased the Lamborghini just days upon receiving the funds. These funds were then used for luxury retail and resort purchases instead of payroll payments.
To read more about the case, visit https://www.nbcmiami.com/news/local/miami-man-lied-to-get-3-9m-in-coronavirus-loans-bought-lamborghini-prosecutors/2268740/.
This update is published by The Law Offices of Mark Eiglarsh, a Fort Lauderdale criminal defense lawyer. Areas of practice include criminal defense, white collar crimes, federal and state drug crimes, fraud, DUI, sex crimes, domestic violence, and more. With over two decades of experience, Mark is committed to obtaining the best possible outcome for his valued clients under difficult circumstances. For more information or to schedule a consultation, please call 954-500-0003 in Broward or 305-674-0003 in Miami.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.