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Press Release

Federal Jury Convicts Billerica Woman On Advance Fee Scam

For Immediate Release
U.S. Attorney's Office, District of Massachusetts
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BOSTON – A Billerica woman was convicted following a five-day jury trial on wire fraud charges in connection with a bogus bank guaranty program.

Diane Glatfelter, 48, was found guilty by a federal jury of four counts of wire fraud. Glatfelter had been indicted in August 2012. U.S. District Judge Douglas P. Woodlock scheduled sentencing for Dec. 16, 2014.

In 2007 and 2008, Glatfelter engaged in scheme to defraud a young real estate businessman from California who was seeking funding for a development project. Glatfelter promised to secure a $20 million loan for him, but required him to pay $125,000 in up-front fees. The loan never materialized and Glatfelter used the money for various purposes other than to secure any funding. As part of her scam, Glatfelter set up two bogus front companies and used her unsuspecting sister to make these fronts appear legitimate.

The charging statute provides a sentence of no greater than 20 years in prison, three years of supervised release and a $250,000 fine on each of the four counts. Actual sentences for federal crimes are typically less than the maximum penalties. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors.

United States Attorney Carmen M. Ortiz; Lisa A. Quinn, Special Agent in Charge of the U.S. Secret Service; Vincent B. Lisi, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division; and William P. Offord, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston, made the announcement today. The case is being prosecuted by Assistant U.S. Attorneys Sandra S. Bower and Christine Wichers of Ortiz’s Economic Crimes Unit and Civil Division, respectively.

Updated December 15, 2014