A Massachusetts woman has pleaded guilty to one count of conspiracy to commit bank fraud. The scheme involved submitting fraudulent rent rolls and forged lease agreements for commercial properties located in Springfield and East Longmeadow, Massachusetts, and Enfield, Connecticut.
Christine Gendron, 59, of Feeding Hills, a certified public accountant, worked as the Financial Manager for JLL Realty Developers, LLC (JLLRD), a company managed by her sister Jeannette Norman and brother-in-law Louis R. Masaschi. Louis R. Masaschi pleaded guilty on April 22, 2025, to one count of conspiracy to commit wire fraud and two counts of wire fraud. His sentencing is scheduled for July 23, 2025. Norman was also allegedly involved in a conspiracy between Masaschi and Gendron, where the trio allegedly orchestrated a plan to deceive commercial lenders by falsifying financial documentation to secure substantial loans under false pretenses.
Masaschi and Norman were reportedly partners in numerous limited liability companies through which they owned commercial and residential real estate across the region. The fraud centered on allegedly submitting materially inaccurate financial data—including rent rolls and lease agreements—that painted a false picture of the properties’ income potential.
Millions in Loans, Millions in Losses
Between May 2016 and November 2018, the group is said to have fraudulently obtained or attempted to obtain approximately $60 million in loans. The financial fallout resulted in lenders suffering an estimated $19.3 million in losses after the loans either went unpaid or were only partially repaid.
Christine Gendron faces up to 30 years in prison, three years of supervised release, and a fine that could reach $1 million or twice the loss involved. The final sentence will be determined by a federal judge under the U.S. Sentencing Guidelines.
Bank fraud is a federal offense, and with maximum sentencing reaching 30 years, thus the consequences can be far-reaching and severe. Misleading a financial institution covers many alleged criminal actions, whether submitting a loan application that contains tax errors, or misrepresenting key data in a loan application. The broad language of the bank fraud statute enables prosecutors to pursue cases involving a wide variety of communications and interactions with financial institutions.
The case serves as a reminder of the sweeping scope and severity of bank fraud charges. The federal government takes these offenses seriously, especially when they involve sophisticated schemes and large financial losses. With potential penalties that include decades behind bars and millions in fines, the crime of bank fraud remains one of the most aggressively prosecuted financial offenses in the U.S. legal system. If you are accused of bank fraud, you need to contact an experienced bank fraud defense attorney immediately. At Dhar Law, LLP, we have a reputation as top-rated, award-winning white collar criminal defense attorneys, who have wide-ranging and extensive experience defending our clients against serious charges in federal court. Please contact a member of our criminal defense team to learn more about how we can support you if you have been accused of bank fraud. Please consult our award-winning bank fraud defense team at Dhar Law, LLP at 617-880-6155 .
