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A Greenfield woman was sentenced this week in federal court in Springfield in connection with concealing nearly $500,000 from a federally insured financial institution.

Marlene Borer, 68, was sentenced to time served (one day) in prison and two years of supervised release. Borer pleaded guilty in September 2018 to one count of conspiracy to make false statements to a federally insured financial institution and one count of false statements to a federally insured financial institution.

Borer’s brother, Jeffrey Borer, and his then-wife had approximately $1.32 million in outstanding loans Wells Fargo Bank in August 2011, according to a statement from the U.S. attorney’s office. In March 2012, Borer, who was acting as her brother’s bookkeeper, received approximately $1.1 million from a judgment in a Honduran court that was deposited into her Massachusetts bank account. Of the $1.1 million judgment, $486,000 belonged to Jeffrey Borer and his then-wife.

A few days after Marlene Borer received the money, her brother e-mailed her to “keep [the] bulk” of their funds in her account because “Wells Fargo might be conducting an asset search on us to try and recover the judgments. Just transfer what is needed to pay bills as they arrive.” Marlene Borer distributed their funds from her account as he requested, according to the statement.

Marlene Borer prepared a false personal financial statement in May 2012 for Jeffrey Borer and his then-wife, stating that they only had $4,200 in the bank. Jeffrey Borer provided the personal financial statement to Wells Fargo, which relied upon it to negotiate their debt. Jeffrey Borer and his then-wife executed a settlement agreement in October 2012 with the bank, in which Wells Fargo agreed to forgive their personal obligations in exchange for a payment of $50,000.

In October 2019, Jeffrey Borer was sentenced to 10 months in prison.