Posted by & filed under Canadian governments, Fraud.

Description: A Florida man has been sentenced to over 7 years in prison for a $2.6 million fraud on 3 different U.S. federal Covid-19 relief programs. Daniel Joseph Tisone provided false information to support a variety of applications for loans designed to assist business in the SARS-Cov-2 crisis. While the programs were intended to support business expenses like wages for employees and mortgage interest, Tisone purchased 2 homes, a boat, and a 4.02-carat ring. He forfeits these assets as part of a plea arrangement.

Date:  February 24, 2023



Discussion points:

1) Have you heard of any similar cases of abuse of Canadian government programs for Covid-19 financial relief?

2) Do you think Canada had enough controls in place for the various financial relief programs it offered Canadians during the SARS-Cov-2 crisis.?

3) Page 6-7 of Wiley’s Understanding Financial Accounting introduces us to the limitations of internal control. Which of these limitations do you think may have been in play with the fraud mentioned in the story?

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