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National News See other National News Articles Title: PPP fraud is ‘worst in history’: $200B stolen and blown on Lamborghinis, beach houses and bling Tens of thousands of fraudsters splurged on Lamborghinis, vacation homes, private jet flights and Cartier jewelry by fleecing the PPP loan system in a $200 billion heist — and did it because the COVID loan scheme was so easy to milk. Approximately $1.2 trillion was rushed through Congress in 2020 and 2021 in COVID bailout cash for businesses and spent on the Economic Injury Disaster Loan Program (EIDLP) and the Paycheck Protection Program (PPP) schemes. But a new report from the Small Business Administration’s Office of Inspector General reveals an astonishing 17% vanished to fraud — an estimated total of $200 billion. And the SBA says it estimates there are more than 90,000 “actionable leads,” while it has already prosecuted dozens — including a former New York Jets wide receiver, Josh Bellamy. Lamborghini Huracan Evo in blue. The Small Business Administration estimates 90,000 people made off with 17% of all COVID relief cash making it the biggest fraud in American history. This $318,000 Lamborghini Huracan Evo is just the tip of the $200 billion PPP fraud iceberg. US Postal Inspection Service David Hines behind the wheels of his Lamborghini. Miami-based David Hines spent thousands in COVID relief money at high- end shops, a Miami hotel and sent $30,000 in taxpayer cash to “Mom,” records show. US Postal Inspection Service The spending spree on taxpayer dollars includes Donald Finley, owner of the now-shuttered Manhattan theme restaurant Jekyll & Hyde, who purchased a Nantucket home across from Dionis Beach with waterfront views with millions of dollars from PPP and EIDLP. Finley faces up to 30 years in prison, and paying more than $3.2 million in restitution, plus a $1.25 million fine. And experts say crooks created fake businesses or lied about their numbers of employees to get access to more free cash — because it was so simple to fleece the taxpayer. Donald Finley restaurant owner. Donald Finley used PPP and EIDLP loans to go on a spending spree. Marisol Diaz/Newsday via AP Finley, the owner of the now-shuttered Manhattan theme restaurant Jekyll & Hyde, faces up to 30 years in prison, according to reports. William Raveis Nantucket “The fraud was so easy to commit. All of the information was self- reported and none of it was verified or checked,” Haywood Talcove of LexisNexis Risk Solutions told The Post. “During the height of the pandemic, it was really hard to purchase [luxury] items like a Rolls-Royce, or a high-end Mercedes because you had people walking in with cash from the PPP program to purchase those items for whatever the dealer was asking,” Talcove said. Justice might finally be catching up with some of the fraudsters: A total of 803 arrests have taken place as of May 2023 for pandemic fraud, the SBA said. $30,000 for ‘Mom’ Post Comment Private Reply Ignore Thread
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