Naples felon indicted on multiple PPP fraud charges

A Naples man whose commercial property was searched by the FBI in March has been indicted Thursday on multiple charges related to PPP fraud.

Daniel Joseph Tisone, 34, faces charges of wire fraud, bank fraud, aggravated identity theft, illegal monetary transactions and possession of ammunition by a convicted felon. If convicted, Tisone faces a maximum penalty of 30 years in federal prison for each wire fraud count (4 counts) and bank fraud count (6 counts), a 2-year minimum mandatory term of imprisonment for the aggravated identity theft counts (2 counts), up to 10 years in federal prison for each illegal monetary transaction count (5 counts) and for the possession of ammunition count. The indictment also notifies Tisone that the U.S. intends to forfeit his interest in a 2019 Tiara 34LS boat, two real properties located in Naples, a 4.02 carat solitaire engagement ring, approximately $65,645.69 seized from two bank accounts, and approximately $2,617,447.17, which are alleged to be traceable to proceeds of the offense.

According to court documents, between March 2020 and April 2021, Tisone, a convicted felon, submitted false and fraudulent Economic Injury Disaster Loan, Main Street Lending Program, and Paycheck Protection Program loan applications to the Small Business Administration, as well as PPP- and MSLP-approved lenders. The loan applications contained numerous false representations, including the criminal history, average monthly payroll, number of employees, and gross revenues of the applicant, Tisone.

In support of the fraudulent EIDL, PPP, and MSLP applications, Tisone submitted false and fictitious payroll and tax documents, as well as a fake commercial lease. Further, Tisone fraudulently used the means of identification of individuals who purported to work for Tisone’s companies, including their names, dates of birth, and Social Security numbers, to submit false and fraudulent payroll and payroll tax documents. Tisone also fraudulently used the means of identification of an individual, including the individual’s name, date of birth, driver license, and Social Security number, to submit a false and fraudulent EIDL application.

According to the U.S. Department of Justice, Tisone’s false and fraudulent representations caused the SBA, PPP, and MSLP lenders to approve and fund one MSLP, four EIDL, and five PPP loans, resulting in the deposit of more than $2.6 million into bank accounts Tisone controlled. Tisone allegedly then unlawfully used the funds for unauthorized purposes and for his own personal enrichment, including the purchase of residences in Naples, stocks and investment securities, and ammunition.