Longmeadow Accountant Sentenced to Prison for $18 Million Loan Fraud Conspiracy

BOSTON - A Longmeadow woman was sentenced yesterday for defrauding commercial lenders out of almost $20 million dollars over a four-year period.

Christine Gendron, 62, a former certified public accountant, was sentenced by U.S. District Court Judge Mark G. Mastroianni to one year of confinement, with six months to be served in federal prison and six months under home confinement with a GPS monitoring device, to be followed by three years of supervised release. Gendron was also ordered to pay $392,607 in restitution for bank fraud, her apportioned share of the total loss. In June 2025, Gendron pleaded guilty to one count of conspiracy to commit bank fraud.

Gendron engaged in a conspiracy to commit bank fraud along with her sister, Jeanette Norman, and brother-in-law, Louis Masaschi, defrauding commercial lenders on multiple occasions. Together, they provided false and fraudulent rent rolls and forged lease agreements for numerous properties located in Springfield, Mass.; East Longmeadow, Mass.; and Enfield, Conn.

Gendron worked as the financial manager for Norman and Masaschi at LL Realty Developers, LLC, an umbrella company which owned primarily commercial and some residential property in Western Massachusetts, Connecticut and elsewhere. The three conspired with each other to fraudulently obtain loans from financial institutions and commercial lenders by providing materially false, fictitious and fraudulent financial information - including false rent rolls and forged lease agreements. After receiving the loans, they defaulted on the loans, causing substantial losses to the financial institutions and commercial lenders, including two community credit unions, and leaving the buildings vacant.

Between May 2016 and November 2018, the coconspirators fraudulently obtained or sought to obtain approximately $60,123,000 in loans and caused a total loss of $18,203,030.

In July 2026, Masaschi was sentenced to four years in prison, to be followed by three years of supervised release. Masaschi was also ordered to pay $18,203,030 in restitution. Gendron's sister and other co-conspirator, Jeanette Norman pleaded guilty and is scheduled to be sentenced on Aug.11, 2026.

United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement today. Assistant U.S. Attorneys Steven H. Breslow and Caroline Merck of the Springfield Office prosecuted the case.