GREECE, N.Y. — News10NBC is working to learn who put in an offer for Crescent Beach Restaurant in Greece after the owner, Katherine Mott-Formicola, forfeited the restaurant.

Mott-Formicola pleaded guilty in December to money laundering in a check-kiting scheme that defrauded Five Star Bank out of $19 million. Investigators say she sent hundreds of checks to various bank accounts to fraudulently increase the balance. 

Crescent Beach’s purchase offer was listed in a court-appointed receiver’s report filed in federal court. One of Mott’s other businesses, the Wintergarden at the Legacy Tower, has a new owner. A former employee purchased the event venue in March. The receiver says this safeguards customers with booked events and deposits. 

Mott-Formicola is scheduled to be sentenced on May 1. She faces up to 30 years in prison and a one-million-dollar fine.

Check-kiting is when someone writes a check for a dollar amount greater than what the bank account contains. The check goes to a different bank account, knowing that banks typically place funds into the depositing account before confirming the funds in the withdrawing account.

According to investigators, during that delay, Mott-Formicola would increase the cash balance in her accounts at various financial institutions by writing overvalued checks.

You can see the full receivership report here: