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Florida Man accused of buying Lamborghini with coronavirus relief funds

We'll preface this by saying that when things work as they're meant to, we don't hear about them. When it comes to the Paycheck Protection Program, created as part of the CARES Act in March to provide loans to businesses to pay employees during the coronavirus lockdown, that means many jobs were saved but we also get stories of honest businesspeople unable to get loans or blackguards abusing the program. This story is the latter. David T. Hines, a 29-year-old Miami man with four businesses, applied for PPP funds in May. He received about $3.9 million in loans, and blew about $500,000 of that before the government began investigating and his bank froze his accounts. Instead of applying for loans to cover monthly expenditures of about $200,000 among his four moving-related companies, the feds say, Hines' four applications through Bank of America claimed combined monthly expenses of $4 million to pay 70 employees. BofA approved three of the four submissions. After the government made its first of three planned deposits of $3,984,557 into Hines' Bank of America account, Hines continued requesting more money, authorities say, ultimately seeking $13.54 million.  The spending began almost immediately after the PPP disbursement. As far as the government could tell by going through Hines' records, none of the money was spent on employees who "either did not exist or earned a fraction of what Hines claimed in his PPP applications.” Instead, officials say, Hines picked up a blue Lamborghini Huracan Evo for $318,497. He paid a person he listed as "Mom" $60,000. Saks Fifth Avenue got another $4,000. In June, $8,500 went to the Graff jewelry boutique, and $7,000 went to Miami's Setai hotel. The disbursement problem has arisen because the Small Business Administration that backs the PPP loans doesn't verify the claims in the applications, according to Assistant U.S. Attorney Michael Berger. How did Hines get caught, then? He got into a hit-and-run accident in his blue Lamborghini in July, and Miami police impounded the car. That eventually attracted investigation from no less than six governmental departments: the FDIC-OIG, USPIS, IRS-CI, the SBA-OIG, the Board of Governors of the Federal Reserve System, and the Bureau of Consumer Financial Protection-OIG. The U.S.

Lamborghini Squadra Corsa previews 830-hp hypercar and racing Urus ST-X

At the conclusion of last year's Lamborghini Super Trofeo series, the Sant'Agata Bolognese carmaker's Squadra Corse division unveiled the SC18 Alstom. That was a one-off, customer-commissioned, extreme track car based on the Aventador SVJ, and the first wholesale creation from the racing department. At this year's series finale in Jerez, Spain, it teased a limited-run hypercar and an evolution of the race-bound Urus ST-X. The hypercar proves a rumor from earlier this month, when a poster at the McLaren Life forum said he was "Going to spec next week and test drive the SVR V12 track version of AV," that AV standing for Aventador. Lamborghini says the track-only car, designed by the company's Centro Stile department, will debut next year. The rumor had posited the hypercar as a ne plus ultra expression of the Aventador's 6.5-liter V12, and that seems to be the case. Engineers extracted 830 horsepower from the naturally aspirated engine, 70 hp more than found in the SVJ. In place of the road car's seven-speed, single-clutch ISR transmission, the unnamed hypercar uses a six-speed Xtrac sequential gearbox, and a mechanical limited-slip differential can be adjusted by the driver for preload. The standard Aventador chassis has been reworked around that powertrain for aerodynamic and safety reasons. The front structure's made of aluminum, a more pliant — and less expensive — material to deal with in case of incidents on the track. The engine's been wrapped in a steel cage in order to increase torsional and bending stiffness. Airflow improves thanks to dual intakes on the hood, an airscoop over the cockpit, and a stonking rear wing.  Lamborghini Urus ST-X View 3 Photos The Urus ST-X has undergone a few changes since its debut last year. The Verde Mantis SUV has been lightened by about 25 percent compared to the production version with "a lighter structure," a vented carbon fiber hood and rear wing, and a racing exhaust. The cabin's luxurious appointment are replaced by a roll cage, racing seats, and a fire suppression system. Scheduled to make its race debut at the end of October 2020 in Misano, Italy, the first pilots to get a chance behind the wheel will be winners of the four classes in the Super Trofeo series.

Lamborghini Urus makes North American debut, will arrive in September

After officially revealing the production version of the new Urus last month, Lamborghini pulled the sheets off the super-SUV on Monday night at a private event at the Museum of Contemporary Art here in Detroit to give both North American media and customers of the brand their first look at the vehicle in the metal. It's the first time the Italian carmaker has had a presence in the Motor City during the Detroit Auto Show for quite some time, perhaps a sign of the importance placed on this model. The United States is Lamborghini's largest market, and the company expects nearly a third of its Urus production is destined to cross the Atlantic. If all goes to plan, the newly remodeled Sant' Agata Bolognese factory will have doubled its production output by this time next year. We will have a full eight months before we start to see how well Lamborghini can convince buyers to write checks, as the company tells us the first deliveries will start in September. With a starting price of $200,000, the Urus will have only a handful of competitors, namely the Bentley Bentayga and perhaps a very well-optioned Porsche Cayenne Turbo or Land Rover Range Rover SVAutobiography — though it now looks certain a Ferrari SUV is coming. Still, Lamborghini maintains that the Urus will be in a class of its own with its unrivaled horsepower-weight ratio and top speed of 189 mph. Related Video: Featured Gallery 2019 Lamborghini Urus: Detroit 2018 View 20 Photos Related Gallery Lamborghini LM002: Detroit 2018 View 9 Photos Image Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com Design/Style Plants/Manufacturing Detroit Auto Show Lamborghini Crossover SUV Luxury Performance 2018 detroit auto show