Appeal Rejected for Former Tewksbury Businessman on Fraud, Embezzlement Convictions

State Appeals court rejected an appeal by a former Tewksbury and Wilmington businessman convicted in 2010 for stealing more than $100,000 from would-be homeowners, according to a report from the Lowell Sun.

Peter DeGennaro was found guilty on five counts of fraud and five counts of embezzlement in Middlesex Superior Court in 2010, and sentenced to four-to six-years in state prison, $103,350 in restitution, 10 years probation and two more years in state prison for embezzlement, according to the Sun.

DeGennaro appealed along with his bookkeeper Charlene Conners, who was convicted of five counts of fraud and sentenced to three to six years in state prison, according to the Sun.

In their appeal, DeGennaro and Connors argued the fiduciary embezzlement statue under which they were charged does not apply to them and that their breach of contract was a civil but not criminal violation, according to the Sun. 

The crimes allegedly occurred between 2001 and 2002 when DeGennaro accepted $103,350 for the building of two homes, but was deposited into a business checking account and was spent without building the homes, according to the Sun.

You can read the full story from the Lowell Sun here.