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The U.S. District Attorney’s Office in Boston announced today that a Longmeadow couple has been indicted on one count of conspiracy to committed wire fraud; two counts of wire fraud; and one count of aggravated identity theft. 

The DA’s press release states that

Louis R. Masaschi, 57, and his wife Jeanette Norman, 56, were indicted by a federal grand jury in Springfield…According to the indictment, Masaschi and Norman were partners in dozens of limited liability companies through which they owned primarily commercial and some residential property in Western Massachusetts, Connecticut and elsewhere. These companies included Longmeadow Hospitality; JLL Realty Developers, LLC; Shaker Rd, LLC; and 79 Enfield Realty, LLC. It is alleged that Masaschi and Norman 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 fraudulent lease agreements. After receiving the loans, Masaschi and Norman allegedly made some or no payments and ultimately defaulted on the loans, causing substantial losses to the financial institutions and commercial lenders.

The couple was arrested on May 23, 2023 and released on conditions. The next court event is scheduled for July 24, 2023. If convicted, they could receive a sentence up to five years in federal prison.