SerpApi.Org
SPRINGFIELD, Mass. (WGGB/WSHM) - 59-Year-Old Louis Masaschi and his wife, Jeanette Norman, ran dozens of property companies using false rent rolls and forged lease agreements yo obtain loans on buildings in Springfield, East Longmeadow, and Enfield, Conn.
Between the years 2016 and 2018, they sought over $60 million dollars in loans causing around $18.2 million in losses to banks, commercial lenders, and two community credit unions.
Masaschi will be on three years of supervised release after serving his time. He’s ordered to pay back the $18.2 million dollars. He and his wife pleaded guilty to wire fraud and identity theft charges. Norman faces a judge again next month.
