Marblehead Man Sentenced to Federal Prison in Tax, Bank Fraud Case

A Marblehead man will spend two years in federal prison as a result of tax and bank fraud violations.

John C. McBride, 65, pleaded guilty in January to “bank fraud and endeavoring to obstruct and impede the due administrations of the Internal Revenue laws,” according to a press release from the Massachusetts District Attorney’s Office.

McBride’s full sentence includes two years in federal prison, followed by two years of supervised release and yet-to-be determined restitution.

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 March 2008 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 fact, in the midst of bankruptcy proceedings and there were several liens against that property. Bank of America discovered the falsified information and did not disburse any funds.

McBride’s crimes carried a possible sentence of 33 years in federal prison, according to an earlier press release.