Don V. Cisternino, COVID Relief Fraud, Florida 2022

Orlando, Florida - A Seminole County man has been sentenced to eight years and six months in federal prison for his role in a COVID-19 relief fraud scheme.

Don V. Cisternino, 47, of Chuluota, was sentenced on February 13, 2023 by U.S. District Judge Wendy W. Berger for wire fraud, aggravated identity theft, and illegal monetary transaction.

Cisternino had pleaded guilty on September 20, 2022, after being extradited from Croatia.

According to court documents, in May 2020, Cisternino fraudulently secured more than $7.2 million in emergency funds through a Paycheck Protection Program (PPP) loan.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was designed to provide emergency financial assistance to millions of Americans suffering the economic effects resulting from the COVID-19 pandemic.

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. In truth, MagnifiCo had no employees other than Cisternino.

The court ordered Cisternino to forfeit a total of $1,071,923.98 seized from five different bank accounts, which are funds traceable to proceeds of the offense. In addition, the court entered an order of forfeiture in the amount of $7.21 million, which represents the total proceeds obtained by Cisternino from the wire fraud scheme.

The court also ordered Cisternino to pay restitution to the U.S. Small Business Administration in the amount of $7,445,855.89.

Cisternino fled to Switzerland after learning he was under investigation for PPP loan fraud, but was arrested on April 11, 2021, pursuant to an Interpol Red Notice, as he attempted to enter Croatia from Slovenia by way of Italy.

Source: https://www.justice.gov/usao-mdfl/pr/extradited-seminole-county-man-sentenced-more-eight-years-federal-prison-covid-relief