Louis R. Masaschi, 59, of Longmeadow, was sentenced to four years in federal prison on July 22, 2026, for orchestrating a commercial loan fraud conspiracy that defrauded lenders of more than $18 million over a four-year period. U.S. District Court Judge Mark G. Mastroianni imposed the sentence in federal court in Springfield, along with a restitution order of $18,203,030.
Working with his wife and co-conspirator Jeanette Norman, Masaschi operated through dozens of limited liability companies, including LL Realty Developers, LLC, to obtain fraudulent loans from financial institutions and commercial lenders. Between May 2016 and November 2018, they fraudulently obtained or sought to obtain approximately $60,123,000 in loans while causing documented losses of $18,203,030 to their lenders, including two community credit unions. Masaschi and Norman targeted properties located in Springfield, Massachusetts; East Longmeadow, Massachusetts; and Enfield, Connecticut.
The fraud scheme centered on false documentation. Masaschi and Norman submitted “materially false, fictitious and fraudulent financial information” including false rent rolls and forged lease agreements to secure the loans. After receiving funding, they defaulted on the loans and left the buildings vacant, maximizing losses to the lenders.
In April 2025, Masaschi pleaded guilty to one count of conspiracy to commit wire fraud, two counts of wire fraud, and one count of aggravated identity theft. Norman pleaded guilty in September 2025 to one count of conspiracy to commit bank fraud. A federal grand jury indicted both in April 2023.
United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, announced the sentencing. Assistant U.S. Attorneys Steven H. Breslow and Caroline Merck of the Springfield Office prosecuted the case. Norman is scheduled to appear in court on August 11, 2026.
