Leah B. Foley United States Attorney for the District of Massachusetts | Department of Justice
A former loan officer has been sentenced to 18 months in prison for defrauding MassMutual Federal Credit Union of nearly $1 million. Brian Socha, 45, from Brookfield, Massachusetts, received the sentence from U.S. District Court Judge Mark G. Mastroianni in Springfield federal court. In addition to his prison term, Socha will serve two years of supervised release and must pay $902,541.15 in restitution.
Socha admitted to accessing co-workers’ computers on more than 20 occasions while employed as a loan officer at the credit union. He used this access to secretly increase the credit limit and reduce the interest rate on his own home equity line of credit (HELOC). Over six years, he raised the HELOC limit from $135,500 to $995,000 and lowered the interest rate from 7.25% to 1.99%. The funds obtained through these actions were used for personal expenses.
United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation Boston Division announced the sentencing. Assistant U.S. Attorney Caroline Merck prosecuted the case.
