Florida male pleads guilty to $7.2M COVID-19 relief scams

ORLANDO, Fla. (AP) — A Florida male who ran away the United States and was ultimately jailed in Croatia has actually pleaded guilty to taking more than $7.2 million in COVID-19 relief funds.

Don V. Cisternino, 46, of Chuluota, pleaded guilty Tuesday in Orlando federal court to wire scams, worsened identity theft and prohibited financial deal, according to court files. His hearing is set up for Jan. 5 where he might confront 32 years in federal jail. As part of a handle district attorneys, Cisternino has actually currently consented to surrender the cash from the scams, along with any properties linked to the criminal offenses.

According to the plea arrangement, Cisternino fraudulently protected more than $7.2 million in emergency situation funds through an Income Defense Program loan in Might 2020. Cisternino’s PPP loan application incorrectly declared that his organization, MagnifiCo, had 441 staff members and month-to-month payroll expenditures in 2019 of more than $2.8 million. The business in fact had no staff members aside from Cisternino. Together with his loan application, Cisternino sent incorrect W-2s, much of which noted the names and Social Security varieties of genuine individuals who had actually not licensed him to utilize their identities. After getting the cash, Cisternino invested it on a Lincoln Navigator, a Maserati, a Mercedes-Benz and a 12,579 square-foot (1,168 square-meter) house in Seminole County, Florida.

Cisternino ran away to Switzerland after discovering he was being examined for scams in January 2021, authorities stated. He was jailed in April that year pursuant to an Interpol Red Notification while attempting to go into Croatia from Slovenia by method of Italy. He was later on extradited to the United States.

The Income Defense Program includes billions of dollars in forgivable small-business loans for Americans having a hard time since of the COVID-19 pandemic. The cash should be utilized to pay staff members, home loan interest, lease and energies. It belongs to the coronavirus relief plan that ended up being federal law in 2020.

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ORLANDO, Fla. (AP) — A Florida male who ran away the United States and was ultimately jailed in Croatia has actually pleaded guilty to taking more than $7.2 million in COVID-19 relief funds.

Don V. Cisternino, 46, of Chuluota, pleaded guilty Tuesday in Orlando federal court to wire scams, worsened identity theft and prohibited financial deal, according to court files. His hearing is set up for Jan. 5 where he might confront 32 years in federal jail. As part of a handle district attorneys, Cisternino has actually currently consented to surrender the cash from the scams, along with any properties linked to the criminal offenses.

According to the plea arrangement, Cisternino fraudulently protected more than $7.2 million in emergency situation funds through an Income Defense Program loan in Might 2020. Cisternino’s PPP loan application incorrectly declared that his organization, MagnifiCo, had 441 staff members and month-to-month payroll expenditures in 2019 of more than $2.8 million. The business in fact had no staff members aside from Cisternino. Together with his loan application, Cisternino sent incorrect W-2s, much of which noted the names and Social Security varieties of genuine individuals who had actually not licensed him to utilize their identities. After getting the cash, Cisternino invested it on a Lincoln Navigator, a Maserati, a Mercedes-Benz and a 12,579 square-foot (1,168 square-meter) house in Seminole County, Florida.

Cisternino ran away to Switzerland after discovering he was being examined for scams in January 2021, authorities stated. He was jailed in April that year pursuant to an Interpol Red Notification while attempting to go into Croatia from Slovenia by method of Italy. He was later on extradited to the United States.

The Income Defense Program includes billions of dollars in forgivable small-business loans for Americans having a hard time since of the COVID-19 pandemic. The cash should be utilized to pay staff members, home loan interest, lease and energies. It belongs to the coronavirus relief plan that ended up being federal law in 2020.

___

Follow AP protection of the pandemic at

Copyright
© 2022 The Associated Press. All rights booked. This product might not be released, broadcast, composed or rearranged.