BINGHAMTON, N.Y. – A mother and son responsible for a fraud scheme that stole $14 million from the former Broome County Teacher’s FCU have both been sentenced to prison.
Laura Conarton, 47, and her son, Scott Lonzinski, 32, both of whom had previously pleaded guilty, each have received five-year sentences for the crime, along with five years of probation and an order to pay $14 million in restitution.
Conarton and Lonzinski used fake CDs as collateral to secure commercial loans from BCT FCU from July 2009 to February 2012, with Conarton even pretending to be an employee at People’s National Bank. Lonzinski used the proceeds from the loans to finance and purchase vehicles for his construction business, purchase and remodel his Pennsylvania home, and to purchase vehicles for himself and family members, according to a statement from the court. More than $6 million in assets have been seized and have gone toward restitution.
The fraud led to the liquidation of BCT FCU, which eventually was merged with Visions FCU.