Andrew N. LaVigne, Bankruptcy Fraud, Mail Fraud, Money Laundering, New York 2023

Local CPA Sentenced to 87 Months for Bankruptcy Fraud, Mail Fraud, and Money Laundering

A notorious Ithaca-area CPA has been brought to justice after a years-long scheme to defraud investors and commit mail fraud. Andrew N. LaVigne, 66, was sentenced to 87 months in federal prison for bankruptcy fraud, mail fraud, and money laundering, according to a recent press release from the United States Attorney's Office.

LaVigne, who practiced as a Certified Public Accountant in the Ithaca area for over 30 years, was ordered to pay over $3.6 million in restitution to his victims. The sentencing took place in federal court in Binghamton, New York on [no date given].

LaVigne's crimes date back to 2004 when he filed for personal bankruptcy, owing approximately $7.6 million to over 80 unsecured creditors. The scheme involved using their money to purchase sports and entertainment memorabilia for resale, but instead, he hid and spent millions of dollars on himself, his family, and his business.

During his bankruptcy proceedings, LaVigne claimed that his only asset was his home and paid back no money to his 80 investors. However, he used his CPA practice's bank accounts to conceal between $3.5 and $9.5 million in assets from the United States Bankruptcy Court and the Office of the United States Trustee.

LaVigne also admitted to defrauding an elderly client in a $4.6 million mail fraud scheme between 2014 and 2016. He convinced the victim to pay $3.6 million for shares of a company that LaVigne created, which he claimed would develop a piece of waterfront property on Pier Road in Ithaca. However, he used the victim's money for his own purposes, including writing checks to himself, paying for the construction of a house for a family member, and funding payroll for his CPA practice.

United States Attorney Grant C. Jaquith praised the efforts of the IRS, the FBI, and the Office of the United States Trustee for helping to bring LaVigne to justice. The case serves as a reminder of the importance of accountability in the financial industry and the consequences of committing crimes for personal gain.

LaVigne's crimes have left his victims with significant financial losses, and the sentence handed down is a testament to the severity of his actions. The case serves as a warning to others who may be tempted to engage in similar schemes, and it highlights the importance of cooperation between law enforcement agencies in bringing perpetrators to justice.

Defendant: Andrew N. LaVigne

Criminal Charges: Bankruptcy Fraud, Mail Fraud, Money Laundering

City and State: Binghamton, New York

Exact Date: [no date given]

Sentence: 87 months in federal prison

Dollar Amounts: $7.6 million owed to creditors, $3.6 million restitution, $4.6 million mail fraud scheme

Source: https://www.justice.gov/usao-ndny/pr/ithaca-area-cpa-sentenced-87-months-bankruptcy-fraud-mail-fraud-and-money-laundering-0