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.
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