Over a five-year period, a former commercial loan officer atGreylock Federal Credit Union allegedly authorized a series ofloans in exchange for a number of kickbacks.

According to U.S. District Court documents, between 2004 and2009 Michael Dicenzo approved loans at the $1.1 billion Greylock inPittsfield, Mass. During that time, he authorized nearly 20 loansand lines of credit union for an unidentified local businessmanthat exceeded the credit union's thresholds. The total dollaramount of approved loans was not known.

The businessman supposedly operated and owned several realestate and construction development companies that had accounts atGreylock.

For approving the loans, Dicenzo received a number of thingsincluding property, cash, and free use of a BMW and a home,according to court documents.

In addition, Dicenzo allegedly opened an account at Greylock forthe purpose of funneling money from local groups and the localbusinessman.

According to the U.S. District Court documents, Dicenzo is nowfacing charges of tax fraud and making false statements toofficials, among other charges.

A comment from Greylock was not immediately available.

In January, the NCUA said it banned Janine Shepard, a formerteller supervisor at Greylock,from participating in the affairs of any federally insuredfinancial institution after she pleaded guilty to one count oflarceny and one count of making false entries into corporaterecords. Her actions resulted in a three-year prison sentence,according to the NCUA.