GREENFIELD, Mass. (WWLP) – A Greenfield woman pleaded guilty in federal court Friday in connection with concealing nearly half a million dollars from a federally insured financial institution.
U.S. Attorney Andrew Lelling’s office reports that 68-year-old Marlene Borer is scheduled to be sentenced on December 19.
According to the plea agreement, Borer acted as her brother’s bookkeeper when he and his then-wife owed Wells Fargo Bank approximately $1.1 million in outstanding loans. In this role, Borer allegedly received a $1.1 million payment related to a judgment from a Honduran court, $486,000 of which belonged to her brother and his then-wife.
The plea agreement indicates that Borer’s brother emailed her to “keep [the] bulk” of the funds in her account because “Wells Fargo might be conducting an asset search on us to try and recover the judgments. Just transfer what is needed to pay bills as they arrive.”
The U.S. Attorney’s office says that Borer did as she was asked, and in 2012, prepared a false personal financial statement for his brother and then-wife stating that they only had $4,200 in the bank. The false statement was then presented to Wells Fargo.
“On Oct. 31, 2012, Borer’s brother and his then-wife executed a settlement agreement with the bank, in which Wells Fargo agreed to forgive their personal obligations in exchange for a payment of $50,000,” U.S. Attorney Lelling’s office said in a release to 22News. “Wells Fargo would not have settled for $50,000 had it known that Borer’s brother and then-wife had received $486,000 in cash from the Honduran judgment.”
The conspiracy charge provides for sentence of no greater than five years in prison, up to three years of supervised release, and a fine of $250,000. The false statements charge provides for a sentence of no greater than 30 years in prison, up to five years of supervised release, and a fine of $250,000.