BOSTON – A Longmeadow woman was sentenced today in federal court in Springfield, Mass. for defrauding commercial lenders out of more than $18 million over a four-year period. Together with her co-conspirators (her husband, Louis R. Masaschi, and her sister, Christine Gendron), she provided financial institutions with numerous false and fraudulent rent rolls and forged lease agreements for numerous properties located in Springfield, Mass.; East Longmeadow, Mass.; and Enfield, Conn.
Jeannette Norman, 58, was sentenced by U.S. District Court Judge Mark G. Mastroianni to 22 months in prison, to be followed by three years of supervised release with four months in home confinement. Norman was also ordered to pay $18,203,030 in restitution. In September 2025, Norman pleaded guilty to one count of conspiracy to commit wire fraud and two counts of wire fraud. In April 2025, Masaschi pleaded guilty to one count of conspiracy to commit bank fraud and two counts of wire fraud and was sentenced in July 2026 to four years in prison, three years of supervised release and was ordered to pay $18,203,030 in restitution. In June 2026, Gendron pleaded guilty to one count of conspiracy to commit wire fraud and was sentenced in July 2026 to six months in prison, three years of supervised release and was ordered to pay $392,607 in restitution. Norman and Masaschi were partners in dozens of limited liability companies, including LL Realty Developers, LLC, through which they owned primarily commercial and some residential property in Western Massachusetts, Connecticut and elsewhere. Norman, Masaschi, and Gendron conspired with each other and others to fraudulently obtain loans for their companies 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, Norman and Masaschi 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, Norman, Masaschi and Gendron fraudulently obtained or sought to obtain approximately $60,123,000 in loans and caused a total loss of $18,203,030.
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.