President commutes sentence of Ithaca-based accountant convicted of fraud
WASHINGTON, D.C. (WENY) -- A former Ithaca-based accountant convicted of performing multi-million dollar fraud schemes is free from federal custody after President Joe Biden commuted his sentence.
Andrew LaVigne was found guilty in 2019 on charges of bankruptcy fraud, mail fraud, and money laundering. He was sentenced to serve over seven years behind bars for the crimes. He was also ordered to pay over $3 million in restitution to his victims. LaVigne is now free after Biden reduced his and the sentences of over a thousand others.
As WENY News previously reported, LaVigne declared for bankruptcy in 2004 after he owed over $7 million to over 80 unsecured creditors in a failed scheme to buy sports memorabilia for resale. During bankruptcy proceedings, LaVigne used his accounting business to hide between $3 and $9 million dollars in assets from government officials, claiming the only asset he had was his home.
LaVigne also defrauded an elderly woman out of over $4 million through a scheme where the person bought shares in a company he created that was supposed to build a waterfront property in Ithaca. The home was never built. Instead, LaVigne used the money to cut checks for himself, pay payroll in his accounting business and built a home for a family member.
He also deposited funds into his business accounts which LaVigne would withdraw for personal and familial use.
LaVigne was a Certified Public Accountant who practiced out of Ithaca for 30 years prior to the conviction.
Biden announced the commutation on Dec. 10. Federal Prison records show LaVigne was released from federal custody on Dec. 20. He was 66 at the time of the conviction, LaVigne is now 72.