NEW YORK, NY (May 15, 2025) — Lawrence Wecker, an 85-year-old Manhattan construction executive, was convicted in January 2024 and sentenced on June 4, 2024, to 2 to 6 years in state prison for his role in a sprawling fraud and corruption scheme tied to JM3 Construction LLC. Wecker, who pleaded guilty to enterprise corruption, was booked into Fishkill Correctional Facility on July 29, 2024, and remains in custody as of May 15, 2025.
Wecker’s criminal history, including 2001 convictions for bribing labor officials and ties to the Lucchese and Genovese crime families, underscored the severity of the enterprise corruption charge.
The scheme, which defrauded affordable housing projects including The Stella at 14 LeCount Place (now 10 LeCount Place) in New Rochelle, New York, involved pervasive criminal activities that undermined worker safety, Minority and Women-Owned Business Enterprise (M/WBE) programs, and fair competition in the construction industry.
On May 3, 2023, Manhattan District Attorney Alvin L. Bragg, Jr., announced indictments charging Wecker, JM3 Construction LLC, and seven other individuals and six companies—collectively known as the JM3 Construction Enterprise—with enterprise corruption and related charges. The indicted individuals included Michael Speier, 46, of Jackson, N.J.; Joseph Guinta, 57, of Middletown, N.J.; Lisa Rossi, 52, of Eastchester, N.Y.; and Marcos Pinheiro, 65, of Kearny, N.J. Guinta, 48 at the time of his plea, admitted to insurance fraud, and JM3 Construction LLC pleaded guilty to scheme to defraud in the first degree, though specific penalties for them remain undisclosed.
The outcomes for Speier, Rossi, and Pinheiro are not publicly detailed.
The indictment detailed multiple criminal schemes at The Stella, a 27-story mixed-use building with 380 residences (25% affordable) and 6,200 square feet of retail space, developed by L+M Development Partners and Wilder Balter Partners. The project, which opened in 2022, was funded by a $125 million construction loan from Citi Community Capital via tax-exempt bonds, Westchester County contributions, and support from New Rochelle’s Industrial Development Agency.
JM3 Construction LLC, a subcontractor, engaged in the following fraudulent activities:
- M/WBE Fraud: Wecker misrepresented M/WBE participation to secure contracts. On February 7, 2020, he emailed compliance officers, falsely claiming JM3 would use MGS Construction Corp. (MBE) for $3 million and LNR Construction LLC (WBE) for $2 million toward M/WBE goals at The Stella. On January 16, 2021, Wecker arranged to pay Lisa Rossi $2,500 weekly to pose as a WBE subcontractor, with intercepted conversations confirming this for The Stella. On July 27, 2021, he admitted to Rossi that her WBE status was used fraudulently at 14 LeCount Place.
- Payroll and Insurance Fraud: JM3 underreported payroll and misclassified workers, defrauding the New York State Insurance Fund of over $1.7 million, including at The Stella. This allowed JM3 to evade proper insurance premiums and labor costs.
- Covering Up Worker Injuries: Wecker instructed employees to conceal workplace injuries to avoid liability. On July 27, 2021, a JM3 foreman reported a worker’s injury at The Stella requiring hospital attention, and Wecker directed, “Say he got cut at home and we’ll get the bill.” On January 25, 2021, Wecker, Speier, and Pinheiro told another injured worker to lie about an injury’s origin, leaving the worker uncompensated.
- Fictitious Contracts and Invoices: On October 4, 2021, Wecker and Speier discussed inflating a subcontract with Joseph Guinta’s JACG Construction LLC for The Stella. On October 5, 2021, Wecker and Leah Guttman planned fake invoices to “squeeze out money” from the general contractor.
The investigation, led by the Manhattan DA’s Rackets Bureau with court-authorized eavesdropping and search warrants, exposed JM3’s misconduct.
JM3 was terminated by The Stella’s general contractor in Fall 2021 for poor performance. A WBLM 14 Le Count Owner LLC spokesperson condemned JM3’s actions as “completely unacceptable,” emphasizing their commitment to M/WBE and workforce obligations.
Westchester County Legislator Damon Maher demanded accountability for the county’s funding, and the DA and NYC Department of Investigation criticized the defendants for exploiting M/WBE programs and endangering workers.
EDITOR’S NOTE: I lived in The Stella at the time indictments in this case were unsealed just weeks before I moved to Ireland. I failed to monitor the case and was only recently reminded of it prompting this belated article.
This article was drafted with the aid of Grok, an AI tool by xAI, under the direction and editing of Robert Cox to ensure accuracy and adherence to journalistic standards.
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