Published February 25,2023
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A Florida man has been sentenced to seven years and three months in federal jail for stealing greater than $2.6 million in COVID-19 reduction funds.
Daniel Joseph Tisone, 35, of Naples, was sentenced Tuesday in Fort Myers federal court docket, court docket paperwork present. He pleaded responsible final August to wire fraud, financial institution fraud, unlawful financial transaction and possession of ammunition by a convicted felon.
“Daniel Joseph Tisone seriously abused three federal programs that used taxpayers’ money to aid struggling small businesses through the pandemic,” Special Inspector General for Pandemic Recovery Brian Miller mentioned in a press release. “SIGPR is glad to have played a significant role teaming with other law enforcement agencies and the United States Attorney’s Office to hold Mr. Tisone accountable.”
Tisone submitted false and fraudulent purposes to the Small Business Administration and banks looking for a number of totally different sorts of loans between March 2020 and April 2021, in line with the paperwork. Prosecutors mentioned the purposes contained false details about Tisone’s felony historical past, common month-to-month payroll, variety of staff and gross revenues. Tisone additionally submitted false payroll and tax paperwork, in addition to a pretend industrial lease, investigators mentioned.
Tisone acquired one Main Street Lending Program mortgage, 4 Economic Injury Disaster Loans and 5 Paycheck Protection Program loans, totaling greater than $2.6 million, authorities mentioned. He allegedly used the cash to purchase two houses in Naples, shares and funding securities, a 2019 Tiara 34LS boat, a 4.02-carat engagement ring and ammunition. As a part of his plea settlement, Tisone should pay again the cash and forfeit the houses, boat and ring.
The Paycheck Protection Program includes billions of {dollars} in forgivable small-business loans for Americans struggling due to the COVID-19 pandemic. The cash should be used to pay staff, mortgage curiosity, lease and utilities. It is a part of the coronavirus reduction bundle that grew to become federal regulation in 2020.
The Economic Injury Disaster Loan program is designed to offer financial reduction to small companies which are experiencing a short lived lack of income. The Main Street Lending Program was designed to offer help to small and medium-size companies and their staff throughout the United States in the course of the pandemic.
Source: www.anews.com.tr
