Marblehead Man Pleads Guilty to Tax, Bank Fraud

A Marblehead man pleaded guilty Wednesday to tax and bank fraud violations and could face more than 30 years in jail.

John C. McBride, 65, pleaded guilty in a federal court to “endeavoring to obstruct and impede the due administrations of the Internal Revenue laws and bank fraud,” reads to a press release from the Massachusetts’ district attorney’s office.

According to the press release, McBride, now a dis-barred criminal defense attorney, recorded six fraudulent federal tax liens against his home in Marblehead in order to obtain a loan. He forged IRS signatures in the documents and deprived the IRS of nearly $700,000 in interest.

He made a similar attempt to secure a loan on a home he owned in Edgartown in 2009 and, in 2011, attempted to obtain a reverse mortgage from Bank of America on that Edgartown home. At that time, he told bank officials there were no liens against the home and that he was not in bankruptcy. The press release states that he was in the midst of bankruptcy proceedings and there were several liens against that property.

Bank of American uncovered the fraud before dispensing any funds.

While he could face up to 33 years in jail on the charges, sentences for federal crimes are typically less than the maximum allowed, according to the press release. McBride is scheduled to be sentenced on April 28, 2015.