This Florida Man Used Millions Of COVID-19 Relief Loans On Ridiculous Luxury Items

Including a massive house. 🤯💸
This Florida Man Used Millions Of COVID-19 Relief Loans On Ridiculous Luxury Items
Jiawangkun | Dreamstime Jianhua Liang | Dreamstime
Contributor

Florida Man is back at it again, but this time he's gotten himself into trouble for an extravagant shopping spree.

Don Cisternino of Seminole County, Florida applied for Paycheck Protection Program (PPP) loans, which were offered to help small businesses survive the pandemic and allegedly spent the millions he received on luxury items.

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$7.2 Million Worth of PPP funds received by Cisternino

Prosecutors say Cisternino used the money to buy a Maserati, an $89,000 Lincoln Navigator, a $251,000 Mercedes-Benz, and a $3.1 million home in Chuluota, Florida.

WPLG News reports Cisternino established a consulting company called Magnifico in 2014 with few or no employees.

He allegedly lied on his loan application in 2020, claiming the company had 441 employees and an average monthly payroll of $2.88 million.

Cisternino was "indicted on two counts of wire fraud, three counts of aggravated identity theft, and three counts of illegal monetary transaction," wrote WPLG News.

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