Marlene Borer, Conspiracy to Hide $486,000, Massachusetts 2018

Greenfield Woman Pleads Guilty to Concealing Nearly Half a Million Dollars

BOSTON – In a shocking case of financial deceit, Marlene Borer, 68, of Greenfield, Massachusetts, pleaded guilty to conspiracy to make false statements to a federally insured financial institution and one count of false statements to a federally insured financial institution in federal court in Springfield yesterday.

According to the plea agreement, Borer’s brother and his then-wife owed Wells Fargo Bank approximately $1.32 million in outstanding loans in August 2011. Borer, who acted as her brother’s bookkeeper, received approximately $1.1 million, related to a judgment from a Honduran court, in her Massachusetts bank account in March 2012. $486,000 of the $1.1 million judgment belonged to Borer’s brother and his then-wife.

A few days after Borer received the money, her brother emailed her to ‘keep the bulk’ of their funds in her account because ‘Wells Fargo might be conducting an asset search on us to try and recover the judgments. Just transfer what is needed to pay bills as they arrive.’ Borer distributed their funds from her account as he requested.

On or about May 24, 2012, Borer prepared a false personal financial statement for her brother and his then-wife, stating that they only had $4,200 in the bank. Borer’s brother provided the personal financial statement to Wells Fargo, which relied upon it to negotiate their debt. On Oct. 31, 2012, Borer’s brother and his then-wife executed a settlement agreement with the bank, in which Wells Fargo agreed to forgive their personal obligations in exchange for a payment of $50,000.

The conspiracy charge provides for a sentence of no greater than five years in prison, up to three years of supervised release, and a fine of $250,000. The false statements charge provides for a sentence of no greater than 30 years in prison, up to five years of supervised release, and a fine of $250,000. Sentences are imposed based upon the U.S. Sentencing Guidelines and other statutory factors.

United States Attorney Andrew E. Lelling and Kristina O’Connell, Special Agent in Charge of the Internal Revenue Service, Criminal Investigation, New England Field Division made the announcement. Assistant U.S. Attorney Steven H. Breslow of Lelling’s Springfield Branch Office is prosecuting the case.

Judge Mark G. Mastroianni scheduled sentencing for Dec. 19, 2018.

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