COVID-19 has hit the world hard. In addition to the deaths economies are failing. The US has made some efforts to help people financially. Many people have been let go or furloughed while society remains partly closed.
The stimulus and unemployment benefits have helped a little bit. While smaller business have been able to get assistance from the PPP program. The PPP or Paycheck Protection Program was created so that companies can still pay their employees during this difficult time. Although as many know people try to play the system.
A Florida man applied for a PPP loan. He requested $13.5 million from the program. Sources say that days after the man recieved the funds he went out and bought himself a 2020 Lamborghini Huracan. The car cost $318,000. He registered the car in his name and the name of one of his companies.
There was a complaint that he had not been making the payroll payments which had stated on his PPP application. In addition to buying the Lambo he spent a bunch of the money at luxury stores and stayed at high-end resorts.
The government caught onto this and police arrested the man. They seized the car and about $3.4 million from his bank. He was charged wit making false statements, engaging in transactions in unlawful proceeds and bank fraud.
He was let go on bail and has a court date sent for the 14th of October. Would you buy a car with your COVID relief funds? Let us know your thoughts in the comments below!
Source: US Dept
