Lawyer Gets 4-Year Sentence On Fraud Conviction To Get Loans

CONCORD, N.H. (AP) — An attorney convicted of bank fraud and other charges in lying to obtain millions of dollars in loans has been sentenced to four years in federal prison.

Joseph Foistner, 68, of Mont Vernon, New Hampshire, was a licensed attorney in Massachusetts when he used fraudulent means to apply for over $8 million in loans and laundered money between 2015 and 2018, the U.S. Attorney’s office said Monday. According to prosecutors, he submitted misleading documents suggesting he was operating a lucrative international firm when he actually had neither paying clients nor income.

Foistner was convicted in December of bank fraud, wire fraud, money laundering, and making misrepresentations during bankruptcy proceedings. He was disbarred.

An attorney for Foistner had asked for a sentence of home confinement, saying he didn't have a criminal record and has health issues.