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News about coronavirus in Florida and around the world is constantly emerging. It's hard to stay on top of it all but Health News Florida can help. Our responsibility is to keep you informed, and to help discern what’s important for your family as you make what could be life-saving decisions.

A Naples man pleads guilty to $2.6 million COVID relief fraud

U.S. District Court for the Middle District of Florida

Officials say 35-year-old Daniel Joseph Tisone received a total of 10 loans and used the money to buy two homes, a boat and a diamond ring. He faces up to 60 years in prison.

A Florida man has pleaded guilty to stealing more than $2.6 million in COVID-19 relief funds.

Court records show that 35-year-old Daniel Joseph Tisone, of Naples, pleaded guilty Monday in Fort Myers federal court to wire fraud, bank fraud, illegal monetary transaction and possession of ammunition by a convicted felon.

Tisone faces up to 60 years in federal prison at a hearing scheduled for Dec. 5.

According to court documents, Tisone submitted false and fraudulent loan applications to the Small Business Administration and banks between March 2020 and April 2021. Officials say he received a total of 10 loans and used the money to buy two homes, a boat and a diamond ring.

He received one Main Street Lending Program loan, four Economic Injury Disaster Loans and five Paycheck Protection Program loans, totaling more than $2.6 million, authorities said. He allegedly used the money to purchase two homes in Naples, stocks and investment securities, a 2019 Tiara 34LS boat, a 4.02-carat engagement ring and ammunition.

As part of his plea agreement, Tisone must pay back the money and forfeit the homes, boat and ring.

The Paycheck Protection Program involves billions of dollars in forgivable small-business loans for Americans struggling because of the COVID-19 pandemic. The money must be used to pay employees, mortgage interest, rent and utilities. It’s part of the coronavirus relief package that became federal law in 2020.

The Economic Injury Disaster Loan program is designed to provide economic relief to small businesses that are experiencing a temporary loss of revenue. The Main Street Lending Program was designed to provide support to small and medium-size businesses and their employees across the United States during the pandemic.