Christopher Dillon, 52, of Lancaster, NY, has admitted to orchestrating a multi-million-dollar wire fraud scheme that left investors stripped of their life savings. Dillon pleaded guilty to conspiracy to commit wire fraud before U.S. District Judge Richard J. Arcara in Buffalo, facing up to 20 years in prison and a $250,000 fine.
Between May 2010 and November 2013, Dillon and co-conspirator Gilbert Lynagh, who was convicted in July 2016, launched two shell companies — i2i Capital LLC and i2i Settlement Partners LLC. Though incorporated in Delaware, the businesses listed a Lancaster, NY address, creating a veneer of legitimacy while operating a calculated fraud from behind the scenes.
Dillon and Lynagh lured 27 victims into investing more than $5,000,000 by making false promises about guaranteed returns, low risk, and short investment durations. These representations were lies. Investors were led to believe their money would be used for structured settlements and financial instruments — none of which materialized.
Wire transfers from victims’ bank accounts flowed directly into accounts controlled by Dillon and Lynagh at Alliance Bank in Oneida, NY. Instead of investing the funds as promised, the pair funneled the money for personal use and other unauthorized purposes. Not a single investor received the promised returns — or even the return of their principal investment.
The fallout was devastating. At least five victims lost retirement funds and lifelong savings, plunging into financial ruin. The scam didn’t just breach trust — it destroyed futures built on decades of careful planning and sacrifice.
The FBI, under Special Agent in Charge Adam S. Cohen, led the investigation that eventually dismantled the scheme. Sentencing for Christopher Dillon is scheduled for March 13, 2017, before Judge Arcara. The case is being prosecuted by Assistant U.S. Attorney MaryEllen Kresse.
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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