Local Crime, News

Peabody man pleads guilty to larceny and money laundering

SALEM — The former head of the Making a Difference in Peabody Foundation pleaded guilty to larceny and other charges Tuesday in Salem Superior Court.  

Scott Frasca, 49, admitted to obtaining loans from five different banks and then claiming he was the victim of identity theft when the payments became due, according to a press release from the Essex County District Attorney’s office. He pleaded guilty to two counts of money laundering, two counts of charitable solicitation violation, five counts of larceny by false pretenses, procuring a signature by false pretense, forgery and uttering.

Judge Thomas Drechsler sentenced Frasca to 90 days of house arrest, followed by five years of probation during which he must perform 400 hours of community service.  He was also ordered not to associate with any non-profits organizations.  He paid $82,902.36 in restitution Tuesday.

Essex First Assistant District Attorney John Dawley recommended two-and-a-half years in the House of Corrections followed by five years of probation.

The defendant was represented by Attorney Elliot Weinstein.

Frasca founded the Making a Difference in Peabody Foundation in 2002, according to givingcommon.org, a website that provides information on Boston-area non-profits. According to the site, the Making a Difference in Peabody Foundation provides one-time emergency assistance to Peabody residents in need of oil, heating gas, fire or flood relief, rent assistance, electricity, food, clothing, and housing items such as appliances and mattresses.

Frasca has led the organization since its inception and has a Masters degree in Nonprofit Management from Northeastern University and a Masters degree with a concentration in Nonprofit Management from Harvard University where he was the recipient of the Derek Bok Public Service Prize, according to the website.

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