Sentencing in Million Dollar Bank Fraud Case

By Matt Hicks

Sentencing in Million Dollar Bank Fraud Case

December 20, 2012 Updated Dec 20, 2012 at 7:20 PM EDT

(WBNG Binghamton) It's been called one of the largest fraud schemes ever prosecuted by the Northern District US Attorney's office.

Now a mother and son, convicted of bilking millions of dollars from a local bank, will spend the next five years in prison.

Scott Lonzinski,32, of Clifford Township, and his mother, 46-year-old Laura Conarton of Great Bend, pleaded guilty to felony charges of bank fraud back in August.

They fraudulently obtained ten loans from the Broome County Teacher's Federal Credit Union totaling more than $14 million.

The money was spent on Lonzinki's construction business, new vehicles, a remodel of Lonzinski's home, and to pay personal expenses for themselves and other family members.

The Broome County Teacher's Federal Credit Union was liquidated due to the fraud and sold to Visions Federal Credit Union.

The U.S. Attorney's office for the Northern District of New York has regained around $6 million back from the two in assets including bank accounts, property and vehicles.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.