A Fraudulent Mansion With PPP Issues "Had Intentionally" Purchased by a Couple for the Amount of $7.2 Million

According to Orlando Sentinel, the federal authorities have stated that a Florida couple had recently fraudulently purchased a real estate property. The said purchase was done by using $7.2 million cash that was fraudulently claimed. That amount, the federal Paycheck Protection Program (PPP), was originally purposed to help many businesses during the COVID-19 crisis.

Unfortunately, the fraudulent couple has used the money meaninglessly to purchase several expensive cars and real estate property in Seminole County. The total amount that was wasted amounts to what was mentioned earlier. Now, the federal government is putting in action to seize the illegally purchased properties, wherein the primary target is the $3.5 million house with seven bedrooms. They have confirmed that the money that was used to purchase it came from a wire fraud scheme, hence the fraudulent purchase.

The criminal couple namely Don Cisternino and Lori Quasky, have been recorded to purchase the said home in July of this year. That is after Cisternino was investigated by the authorities, due to him getting a loan via the usage of fake information. These were the findings of the federal court on December 17, 2020.

The recent case of the fraudulent couple is now the second time a case involving an individual either lying or scheming to illegally or fraudulently get a check (or multiple checks) from the PPP by the national government. Therefore, this will be also the second time that the federal government is attempting to seize back the money used in this kind of case. 

What Is Exactly PPP? and What Is the History of the Said Program?

According to News Break, the said Paycheck Protection Program (PPP) is part of the CARES Act that was created by Congress. The said Act, fully named Coronavirus Aid, Relief, and Economic Security Act was created by the Trump administration in response to the new and ongoing COVID-19 pandemic. It was put into action on March 27, 2020, and it has amounted to $2.2 trillion, which acts as an economic stimulus for the American public.

It was introduced on January 24, 2020, during the months wherein the virus was not yet spread out globally. It was then approved and signed by the said administration on the mentioned date above. The said Act is aimed at both families and individuals who were badly affected by the global pandemic, giving them approved stimulus from the government.

The stimulus amount for eligible families and individuals will highly depend on their completed 2019 federal income tax fillings. However, if there are no records for that year, the government can base the stimulus of a family or an individual on their 2018 federal income tax fillings instead. 

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