ROCHESTER, N.Y. (WROC) — According to the full guilty plea agreement from Katherine Mott-Formicola filed in federal court, the local business owner and restauranteur must forfeit The Crescent Beach. The town of Greece announced last year that Mott-Formicola would be taking over the property, which had been vacant since 2017. The town brokered a deal between the former owner and Mott-Formicola. Town of Greece: Crescent Beach Restaurant has new owners Then, she said "being from Greece we went there for every holiday, and I was not interested until the town reached out to me and once I walked in I knew I had to have it." The planned opening for Crescent Beach was the spring of 2024. News 8 has reached out to the town of Greece for comment, and has not heard back yet. Katherine Mott-Formicola pleads guilty to check-kiting scheme Tuesday, Mott-Formicola pleaded guilty to financial institution fraud and money laundering. The charges come with a maximum penalty of 30 years in prison and a fine of $1 million, but the as part of the plea agreement, the defense and prosecution are recommending a sentencing range of 78 to 97 months, with a fine of $25,000 to $250,000. Mott can argue for an even lower sentence before a judge, who still has the ultimate authority. A March lawsuit filed by Five Star Bank alleged that Mott began “kiting” checks using multiple accounts at First Star Bank and others to artificially inflate those bank accounts' balances. The assistant attorney of the case said in a release that Mott-Formicola used ten business accounts at Five Star Bank and seven accounts at Kinecta Federal Credit Union to run a check-kiting scheme. The attorney said that between November 2022 and March 2024, Mott-Formicola would write checks between the accounts to artificially inflate their value. Prosecutors alleged that Mott-Formicola did this with over 500 checks to inflate her accounts. In March of this year, investigators said that Kinecta did not honor Mott-Formicola's checks to Five Star. After the checks were not honored, Mott-Formicola's scheme would lead to Five Star Bank losing nearly $19 million. In May, an updated civil suit from Five Star alleged four more people participated in this scheme: Kristina Bourne, Robert Harris, Timothy Larocca and Taylor Pagano. The announcement of Mott-Formicola's guilty plea does not include any of these names. Mott-Formicola is scheduled to be sentenced on May 1, 2025.