Kent Pecoy, 66, the former owner of a luxury home building business in West Springfield, was sentenced to time served (one day) and two years of supervised release for conspiring to defraud the United States and making false statements to a financial institution.
He was also fined $24,000 and ordered to pay $35,982 in restitution.
Pecoy pleaded guilty in May 2024 to charges related to concealing cash payments for the construction of two homes and making false statements to obtain a mortgage for one of his clients.
Read: Kissimmee Man Arrested For Wire Fraud, Faces 20 Years In Prison Per Count
The scheme involved receiving over $1 million in cash payments from a client, Kevin M. Kennedy, and failing to report the income to the IRS. Pecoy also created false documents to hide the cash transactions.
Kennedy was sentenced to 13 months in prison in April 2024 for his role in the conspiracy. Pecoy’s son, Jason Pecoy, was also convicted and is awaiting sentencing.
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