Christopher Dillon, Wire Fraud, New York 2023

A 55-year-old Lancaster man was sentenced to 52 months in prison for his role in a massive wire fraud scheme that targeted over 27 victims, netting more than $5 million in ill-gotten gains.

Christopher Dillon, along with his co-conspirators Gilbert Lynagh and Leonard Smith, formed two companies, i2i Capital LLC and i2i Settlement Partners LLC, which were incorporated in Delaware but listed a business address in Lancaster, NY.

Between May 2010 and November 2013, Dillon and his co-conspirators convinced investors to part with over $5,000,000, promising high returns and a low-risk investment. However, the funds were wire transferred to bank accounts controlled by Dillon and Lynagh at Alliance Bank in Oneida, NY.

The majority of the victim funds were used for personal expenses, including those not authorized by the victims. As a result, none of the victims received the promised return on their investments, and none saw the return of their original investment funds.

The investigation, led by the Federal Bureau of Investigation, uncovered the massive scheme, which left at least five investors with substantial financial hardship, including the loss of retirement or other savings or investment funds.

Gilbert Lynagh was convicted of his role in the conspiracy in July 2016, while Leonard Smith awaits sentencing after being convicted in August 2019.

Christopher Dillon was sentenced to 52 months in prison by U.S. District Judge Richard J. Arcara and ordered to pay restitution totaling $5,245,862.

Source: https://www.justice.gov/usao-wdny/pr/lancaster-man-sentenced-fraud