A Florida man was sentenced to over eight years in prison for obtaining more than $7 million in COVID relief funds
Don V. Cisternino, 47, purchased a 12,579 square-foot home in Florida after receiving millions of dollars in COVID relief funds, federal prosecutors said.
Federal prosecutors said Cisternino received $7.2 million in emergency funds through the Paycheck Protection Program in May 2020. Cisternino’s PPP loan application falsely claimed that his business, MagnifiCo, had 441 employees and monthly payroll expenses in 2019 of more than $2.8 million. The company actually had no employees other than Cisternino.
Along with his loan application, Cisternino submitted false W-2s, many of which listed the names and Social Security numbers of real people who had not authorized him to use their identities. After receiving the money, Cisternino spent it on a Lincoln Navigator, a Maserati, a Mercedes-Benz and a 12,579 square-foot home in
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