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Billerica Woman Charged with Advance Fee Scam
AUGUST 16, 2012

BOSTON - A Billerica woman was charged today in federal court with wire fraud and money laundering in connection with a bogus bank guaranty program.

Diane Glatfelter, 46, was charged with six counts of wire fraud and one count of money laundering.

The indictment alleges that in 2007 and 2008, Glatfelter engaged in a scheme to entice individuals to pay up-front fees to secure large capital loans which he could not deliver. The indictment charges that one individual paid $125,000 in fees to procure a $20 million loan that never occurred and that Glatfelter used the money for various purposes other than to secure any funding.

If convicted, Glatfelter faces up to 20 years in federal prison on each of the wire fraud counts and up to 10 years in prison on the money laundering charge, to be followed by three years of supervised release, and a $250,000 fine.

United States Attorney Carmen M. Ortiz; Steven D. Ricciardi, Special Agent in Charge of the U.S. Secret Service; Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation’s Boston Field Division; and William P. Offord, Special Agent in Charge of Internal Revenue Service, Criminal Investigation, Boston Field Division, made the announcement today. The case is being prosecuted by Assistant U.S. Attorney Sandra S. Bower of Ortiz’s Economic Crimes Unit.

The details contained in the indictment are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.


 

 

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