Boston, MA – April 2025 — A certified public accountant from Feeding Hills, Massachusetts, has agreed to plead guilty in federal court for her role in a wide-ranging bank fraud scheme that led to more than $19 million in losses to lenders through falsified real estate documents.
Christine Gendron, 59, has agreed to plead guilty to one count of conspiracy to commit bank fraud, according to an announcement by the U.S. Attorney’s Office for the District of Massachusetts. A plea hearing has not yet been scheduled.
According to court documents, Gendron served as the financial manager for JLL Realty Developers, LLC (JLLRD), a company operated by her sister, Jeannette Norman, and brother-in-law, Louis R. Masaschi. The trio, through JLLRD and other affiliated LLCs, owned numerous commercial and residential properties across Western Massachusetts and Connecticut.
Federal prosecutors allege that between May 2016 and November 2018, Gendron conspired with Masaschi and Norman to defraud multiple financial institutions by submitting forged lease agreements and false rent rolls to secure inflated real estate loans. These fraudulent documents misrepresented the occupancy and financial performance of properties in Springfield and East Longmeadow, MA, and Enfield, CT.
The scheme allowed them to fraudulently obtain or attempt to obtain over $60 million in financing. Ultimately, the conspirators defaulted on many of the loans, resulting in a total loss of more than $19.3 million to banks and commercial lenders.
Masaschi previously pleaded guilty on April 22, 2025, to one count of conspiracy to commit wire fraud and two counts of wire fraud. He is scheduled for sentencing on July 23, 2025. Norman has not been formally charged in the plea documents but is referenced as a co-conspirator.
Gendron faces a statutory maximum of 30 years in prison, a fine of up to $1 million or twice the gross gain or loss, and three years of supervised release. Sentencing will be determined in accordance with federal guidelines.
The case is being prosecuted by Assistant U.S. Attorney Steven H. Breslow of the Springfield Branch Office and investigated by the Federal Bureau of Investigation (FBI), Boston Division.
Sources:
- U.S. Attorney’s Office, District of Massachusetts – justice.gov
- Federal Bureau of Investigation – Boston Division
