Crescent Beach Restaurant to be seized by U.S. government after owner pleads guilty to check-kiting case

GREECE, N.Y. — New developments have emerged in the ongoing check-kiting case involving a local restaurant owner. The Crescent Beach Restaurant in Greece is set to become the property of the U.S. government.

Court records reveal that Katherine Mott-Formicola has forfeited the restaurant as part of a monetary judgment. Mott-Formicola recently pleaded guilty to bank fraud and money laundering. Her scheme involved over-inflating her bank balances.

She faces a prison sentence ranging from 6 1/2 to 8 years.

Related Articles:

Court-appointed receiver recommends sale of restaurants owned by prominent restaurateur accused of defrauding bank out of nearly $19 million

Restaurant owner accused in check-kiting scheme sues bank

Update on local restaurant owner accused of bank fraud

New defendants added in Five Star Bank’s lawsuit against restaurant owner over alleged fraud

‘No answer as to where these funds are’: Local restauranteur faces RICO claim over missing $19 million