Lisa McElhone, right, and her husband, former Par Funding founder Joseph LaForte Read more Handout, left, Sean Murray

by Chris Palmer Published Oct. 23, 2025, 3:36 p.m. ET

The wife of the founder of Par Funding , a fraudulent and now-defunct Philadelphia-based lending firm , was sentenced Thursday to one day in jail — and 60 days of house arrest — for dodging about $1.6 million in taxes she should’ve paid on income derived from the scheme.

Lisa McElhone apologized for her conduct during a sentencing hearing before U.S. District Judge Mark A. Kearney, saying the spectacular implosion of her husband’s business — and the criminal prosecution of people associated with it — has been the “most painful and transformative period of my entire life,” causing her to lose her home,

See Full Page