Second of three sentenced in multi-million dollar loan fraud scheme

SPRINGFIELD, Mass. (WGGB/WSHM) - There’s been new developments in the multi-million-dollar fraud scheme taking place in western Mass. that we’ve been following.

Officials said a former public accountant, 62-year-old Christine Gendron of Enfield, helped her sister Jeanette Norman and brother-in-law Louis Masaschi lie to lenders using fake rent rolls and forged leases on buildings in Springfield, East Longmeadow and Enfield.

Between 2016 and 2018, the three sought more than $60 million dollars in loans and caused about $18.2 million in losses.

Gendron was sentenced to 6 months in federal prison and 6 months of house arrest with GPS monitoring — plus three years of supervised release. She must also pay just over $392,000 in restitution, her share of the loss.

Her brother-in-law Masaschi will spend 4 years in prison, and her sister Norman is due to be sentenced next month.