Former CU Loan Officer Sentenced for Million-Dollar HELOC Scheme

Defendant Ordered to Pay $902,541.15 in Restitution

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Boston, MA – March 3, 2026 – A former loan officer at MassMutual Federal Credit Union was sentenced in federal court in Springfield, Massachusetts, for a multimillion-dollar fraud scheme against his employer.

Brian Socha, 45, of Brookfield, Mass., received an 18-month prison term from U.S. District Judge Mark G. Mastroianni. The sentence also includes two years of supervised release and a restitution order of $902,541.15 for bank fraud.

Socha pleaded guilty to defrauding the credit union of nearly $1 million during his employment as a loan officer. Over six years, he illegally accessed co-workers’ computers more than 20 times to secretly modify terms on his own home equity line of credit (HELOC). He raised the credit limit from $135,500 to $995,000 and reduced the interest rate from 7.25% to just 1.99%—far below market levels. Socha then used the improperly obtained funds to support his personal lifestyle and expenses.

The announcement was made by United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the FBI’s Boston Division. The case was prosecuted by Assistant U.S. Attorney Caroline Merck of the Springfield office.

Source: DOJ