BOSTON - Four men, including a former president of Digital Equipment Corp.'s credit union, were charged with fraudulently obtaining $30 million in loans from a now-defunct Cape Cod credit union.

Federal prosecutors charged Richard D. Mangone, Robert Cohen, Ambrose L. Devaney, and James K. Smith with bank fraud, money laundering, and conspiracy. They pleaded not guilty and were freed on bond.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.