NAPLES, Fla. — The United States Attorney's Office says 34-year-old Daniel Tisone was arrested after a criminal complaint was filed in regards to COVID Relief fraud.
Tisone's charges are for wire fraud, bank fraud, and illegal monetary transactions; if convicted, he is said to face up to 30 years in prison on each fraud charge along with another 10 years in federal prison.
Between March 2020, and April 2021, he was reportedly already a convicted felon when he had committed a false and fraudulent Economic Injury Disaster Loan Maine Street Lending Programs and Paycheck Protection Program loan applications to the small business administration programs along with PPP and MSLP approved lenders. In those loan “approved” applications, there was a lot of false information involving criminal backgrounds, monthly payments, and gross revenues.
Tisone's false loan applications caused loan lenders to approve amounts totaling over $2,523,954.17. According to the report Tisone used those funds to spend over $1million on stocks, a Naples home, and other investments.
According to the report, Tisone has not yet been proven guilty and the charges he faces are allegations until he is proven guilty in court.
The case is said to be investigated nut the FBI, IRS, and the Special Inspector General for Pandemic Recovery.