A Miami man spent the money from the COVID-19 loans on two Teslas, a Lamborghini and a Porsche

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Your person is now the subject of a federal investigation. The man received $4.4 million in fraudulent loans

A Miami man spent the money from the COVID-19 loans in two Teslas, a Lamborghini and a Porsche

By

Soledad CedroFrom Miami, Florida, United States

A Miami man spent his COVID-19 loan money on two Teslas, a Lamborghini and a a Porsche

Andre Lorquet could face up to 22 years in prison if the fraud is proven

The federal government invested billions of dollars to face the COVID-19 crisis and try to minimize the impact on companies and small businesses. Although much of that money was used correctly, there has been an enormous number of proven frauds.

One ​​such case is that of Andre Lorquet, a 38-year-old Miami resident who is under federal investigation. Lorquet is a certified tax preparer who fraudulently reported cases of small companies in financial straits due to the COVID-19 crisis to the federal government. The man applied for federal loans for 4.7 million dollars, of which they ended up granting him 4.4 million.

A Miami man spent his COVID-19 loan money on two Teslas, a Lamborghini and a Porsche

Lorquet bought a Porsche Panamera< p class="paragraph">According to the federal prosecutor in charge of the investigation, instead of investing the money in the companies, Lorquet spent it on luxury cars, including two Teslas, a Lamborghini Urus, a Porsche Panamera GTS.

A Miami man spent his COVID-19 loan money on two Teslas, a Lamborghini and a a Porsche

He used some of the money to buy a Lamborghini, instead of using it for companies in financial trouble

The lawsuit accuses him of “unjustly enriching himself” thanks to these loans. The defendant is charged with four charges for fraud by sending money, four charges for money laundering and one charge of aggravated identity theft. If found guilty, he could face a sentence of up to 22 years in prison.

The prosecution sent a press release regarding this case saying that Lorquet fraudulently obtained the COVID-19 relief loans under the program of paycheck protection from the SBA, the Economic Disaster Relief Program, and the Closed Place Operators Grant.

Although they were loans, because they were granted by the federal government in times of crisis, if the companies used them legitimately (such as to pay rent or employees), they did not have to repay the money, which is what Lorquet tried to do.

A Miami man spent the money of loans due to COVID-19 in two Teslas, a Lamborghini and a Porsche

The investigation into Lorquet falls to the federal prosecutor's office

This case is just one of a dozen under investigation in South Florida, and the dynamic was repeated across the country. To date, federal prosecutors have brought more than 1,500 people to justice in similar fraud cases costing the nation $1.1 billion.

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