A former loan officer at Monson (Mass.) Savings Bank has admitted to a fraud scheme that cost the thrift about $200,000.

John Sacco, a vice president from 1991 to 1995, pled guilty last week in U.S. District Court in Springfield, Mass., the U.S. Attorney's office for Massachusetts announced.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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