Former state senator pleads guilty to bank fraud charges
PROVIDENCE, R.I. – North Providence attorney and former state senator Christopher Maselli has pleaded guilty in a U.S. District Court to eight counts of bank fraud.
Prosecutors said Maselli lied about his income and assets by using fabricated tax returns and bank statements to apply for a series of loans.
Between 2007 and 2009, he received $1.7 million mostly mortgages for several properties in Johnson and North Providence.
Prosecutors said Maselli also put his wife's grandmother on a false loan application.
Maselli resigned from his senate seat last week. He did not reach a plea deal with prosecutors and faces up to 30 years in prison on each of the eight counts of bank fraud. Maselli will be sentenced in February.
Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. email@example.com.