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Longmeadow woman sentenced to 22 months in $18 million commercial loan fraud

Jeannette Norman, who pleaded guilty to wire fraud, was also ordered to pay more than $18.2 million in restitution for her role in a scheme that prosecutors said used false rent rolls and forged leases to win commercial loans.

A Longmeadow woman was sentenced in federal court in Springfield to 22 months in prison for her role in a scheme that defrauded commercial lenders of more than $18 million, the U.S. attorney's office in Massachusetts said.

Jeannette Norman, 58, was also ordered by U.S. District Judge Mark G. Mastroianni to pay $18,203,030 in restitution and to serve three years of supervised release, including four months of home confinement. Norman pleaded guilty in September 2025 to conspiracy to commit wire fraud and two counts of wire fraud.

Prosecutors said Norman, her husband, Louis R. Masaschi, and her sister, Christine Gendron, gave lenders false rent rolls and forged lease agreements for properties in Springfield and East Longmeadow, Mass., and Enfield, Conn.

Norman and Masaschi were partners in dozens of limited liability companies, including LL Realty Developers, through which they owned mostly commercial and some residential property in Western Massachusetts, Connecticut and elsewhere, according to prosecutors. After receiving the loans, the couple defaulted, causing heavy losses to lenders, including two community credit unions, and leaving the buildings vacant, prosecutors said.

Between May 2016 and November 2018, the three obtained or tried to obtain about $60.1 million in loans and caused losses of $18,203,030, according to the U.S. attorney's office.

Masaschi pleaded guilty in April 2025 to conspiracy to commit bank fraud and two counts of wire fraud. He was sentenced in July to four years in prison and ordered to pay $18,203,030 in restitution. Gendron pleaded guilty in June to conspiracy to commit wire fraud and was sentenced in July to six months in prison and ordered to pay $392,607 in restitution.

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Massachusetts