Edmond P. LaFrance, Wire Fraud and Money Laundering, Massachusetts 2012

BOSTON – Edmond P. LaFrance, 70, of Nashua is facing a return trip to federal prison after pleading guilty today to a complex scheme involving fraudulent investments and dirty money. The seasoned con man admitted to defrauding investors and laundering funds from online scams, proving that old habits die hard.

LaFrance pleaded guilty to two counts of wire fraud and three counts of money laundering in U.S. District Court in Boston. The charges stem from a period between 2012 and 2013, when he pitched a phantom company, Natural Waters, claiming it bought and sold bulk mineral water. Court documents reveal the company was a complete sham – no legitimate water sales occurred, and investor money was siphoned off for LaFrance’s personal use and funneled to his co-conspirators.

But LaFrance wasn’t content with just one scam. Around 2015, he allegedly became a key money launderer for a network of online fraudsters operating primarily outside the United States. He willingly accepted hundreds of thousands of dollars from unknown victims, wiring the funds to hidden third parties – all without a shred of legitimate business connection. This wasn’t about ignorance; it was about knowingly facilitating criminal activity for a cut.

This isn’t LaFrance’s first rodeo with the law. In 1990, he was convicted of structuring currency transactions, making false statements, and conspiring to defraud the United States. He doubled down on his criminal behavior in 2007, earning convictions for wire fraud and making false statements again. Clearly, prison time hasn’t deterred this repeat offender.

Each count of wire fraud carries a potential sentence of up to 20 years in prison, three years of supervised release, a $250,000 fine, and restitution. The money laundering charges are even steeper, with a maximum sentence of 20 years, three years of supervised release, a $500,000 fine, and restitution. While actual sentences often fall below the maximum, LaFrance’s extensive criminal history will undoubtedly influence the judge’s decision.

Acting United States Attorney William D. Weinreb and Harold H. Shaw, Special Agent in Charge of the FBI’s Boston Field Division, announced the guilty plea. Assistant U.S. Attorney Stephen P. Heymann of the Economic Crimes Unit is leading the prosecution. The Grimy Times will continue to follow this case as LaFrance awaits sentencing, hoping justice finally catches up to this seasoned fraudster.

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