Man buys cars worth $5 million from COVID-19 support fund

A California man was reportedly arrested for using money from Paycheck Protection Program (PPP) loans to buy a Lamborghini, a Ferrari and a Bentley.

Mustafa Qadiri, 38, of Irvine used money received in Paycheck Protection Program loans intended to save his struggling business during the coronavirus fueled a high-performance shopping of three luxurious cars.

Mustafa was arrested on Friday on federal bank fraud and other charges after he used the money to buy a Lamborghini and other luxury cars, federal prosecutors said.

The convict was indicted by a federal grand jury on four counts of bank fraud, four counts of wire fraud, one count of aggravated identity theft and six counts of money laundering, the U.S. attorney in the Central District of California announced.

A 2018 Lamborghini Aventador S was one of three luxury cars seized from Mustafa Qadiri.

Federal prosecutors said Mr Qadiri’s efforts to obtain federal loans started in late May 2020 and netted him nearly $5.1 million by early June. Mr Qadiri is accused of using that money to go on a spending spree that included buying a Ferrari, a Lamborghini and a Bentley and paying for “lavish vacations,” all of which are prohibited under the Paycheck Protection Program, prosecutors said.

Numerous people have been arrested and charged with misusing pandemic relief funds. Mr Qadiri is at least the third person to face charges specifying the purchase of a Lamborghini.

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