A Feeding Hills woman, Christine Gendron, recently pleaded guilty in federal court to conspiracy to commit bank fraud for her role in a wide-ranging scheme to deceive commercial lenders using false rent rolls and forged lease agreements. Working as the financial manager for JLL Realty Developers, LLC, Gendron conspired with her brother-in-law, Louis Masaschi, and allegedly her sister, Jeanette Norman, to fabricate financial documents that falsely inflated the value and income potential of various commercial properties in Massachusetts and Connecticut.
This type of fraud—misrepresenting the value of rental income and tenant occupancy—misleads lenders into approving loans they otherwise would not have issued. After obtaining financing, the conspirators made little to no repayment and ultimately defaulted, leaving banks and lenders with over $19 million in losses. Gendron’s conviction follows Masaschi’s earlier guilty plea to wire fraud and conspiracy, while Norman’s case is still pending trial. Such crimes not only harm lenders financially but also undermine trust in real estate transactions and banking systems.
Individuals charged with conspiracy to commit bank or wire fraud face severe penalties. Each count can carry up to 30 years in federal prison, followed by supervised release and substantial fines—up to $1 million or twice the gain or loss caused by the offense. Sentencing will be determined based on the U.S. Sentencing Guidelines, which consider the scale and impact of the fraud.
These cases serve as a stark reminder that defrauding financial institutions carries significant legal risks. For those accused, it is critical to consult an experienced criminal defense attorney who understands the complexities of financial fraud and can develop a robust defense strategy tailored to the case’s specific facts.
At Dhar Law, LLP, our award-winning team of bank fraud attorneys have defended countless serious white-collar crimes and cases of fraud in federal court. Don’t face these charges alone – contact a member of our team today at 617-880-6155.
