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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 Super Trofeo series will rent you a race car for $35k, all expenses included

Racing isn't cheap. The cars often command six-figure price sums, race teams don't work for free and then you have to get the car to races while feeding it an endless supply of tires. It's no surprise then that owning a race team is a multimillion-dollar affair, but Lamborghini and its North American Blancpain Super Trofeo series is a new way for licensed racers to get behind the wheel of a racecar for a much lower price.
As a part of the single-make series, Lamborghini will supply racers with everything you need for competition - including a race-spec Gallardo LP 570-4 Super Trofeo - as well as a trackside hospitality experience... all for a relatively affordable $35,000 per race weekend. Of course, not just anyone with a spare $35,000 can hop behind the wheel and hit the track. Lamborghini says that all drivers must have an FIA-accredited racing license for the International Motor Sport Association category with a "C" or "D" rating.
When it comes to the actual racing, there will be two 60-minute practice sessions, 40 minutes of qualifying and two 50-minute races, meaning that these cars might be the most expensive rental cars ever at $8,700 per hour. In its inaugural season, the Super Trofeo will run in conjunction with two Grand-Am races, two America Le Mans Series races, an IMSA race in Canada and finally an IndyCar race weekend in California.

Lambo to quarantine twin-turbo V8 to Urus

Lamborghini is planning to slot a 4.0-liter twin-turbo V8 into the Urus sport utility vehicle. But don't expect the engine to make its way into the Italian firm's supercars anytime soon. According to the latest report, that forced-induction mill will be limited exclusively to the sport ute for the foreseeable future. Speaking with Autocar, CEO Stephan Winkelmann reiterated that the Urus will be the only Lamborghini model powered by the turbo eight. "On the supersports cars we are convinced that the choices we have made with the naturally aspirated engines are still the right ones," said Winkelmann. "We are not saying that future engines will never beat what we have in our cars; we are saying as long as there is nothing that is better, especially at low revs or in terms of the sound that the V10 and V12 have, we stick to them." While its rivals have embraced turbocharging, Lamborghini has been a steadfast holdout for high-revving, naturally aspirated engines with two-digit cylinder counts. Ferrari, for example, has slotted a turbocharged V8 into both the California T and 488 GTB. McLaren uses a turbo V8 in all its models. Lambo's own sister brands Porsche and Bugatti also use turbochargers. But the Huracan eschews forced induction for an atmospheric V10, as does the Aventador for a V12. The Volkswagen Group of which Lamborghini is part employs a 4.0-liter twin-turbo V8 for both the Bentley Continental and numerous Audi models. We'll likely be looking at a version of this engine to power the Urus, which is also expected to offer additional powertrain options in the future. The last time Lamborghini offered an SUV was with the LM002 of decidedly different orientation, powered by a version of the V12 engine from the Countach. Related Video: