Former Pepperell businessman sentenced for concealing $3-4M in funds
The former owner of a Pepperell construction company was sentenced to 18 months in prison Wednesday for concealing assets during bankruptcy proceedings.
Cyril Gordon Lunn, 69, transferred assets belonging to the company, CY Realty Corp., and himself - including $3-$4 million in cash - from the United States to Canada, where he deposited all or some of the funds into safe deposit boxes, according to the U.S. Department of Justice's Boston office.
Lunn was sentenced by a U.S. District Court judge in Worcester to 18 months in prison and ordered to pay restitution of $6,339. Upon his release, the Canadian citizen will face deportation hearings.
Lunn pleaded guilty in January to concealing assets from his bankruptcy creditors and making a false statement under the penalty of perjury during bankruptcy proceedings. He filed for bankruptcy for both the business and himself personally in 2001.
The man's actions were discovered after he testified about the asset transfers during a 2004 Canadian civil suit, according to the Department of Justice. Lunn rented a snowmobile in Maine and fled across the border into Canada in 2005, and remained a fugitive there until he was extradited in 2016, prosecutors said.
CY Realty was formed in 1985 and was dissolved in 2007, according to the U.S. Secretary of State.
WBJ Web Partners
Most Recent
Most Recent
0 Comments