A former West Springfield businesswoman pleaded guilty Thursday to charges tied to a Ponzi scheme worth nearly $11 million in which she defrauded over 200 victims, the Massachusetts U.S. Attorney’s Office announced.
Barbara Hirshfield, 83, of Lexington, pleaded guilty in federal court in Springfield to five counts of wire fraud. Hirshfield was charged in the case in July 2026.
Hirshfield is the former owner of Ideal Financial Services, as well as Ideal Financial Holdings, which purported to operate a car and small loan business, federal prosecutors said. Ideal raised money from investors by selling promissory notes that guaranteed high returns…