ALEXANDRIA, Va. –NCUA has issued one consent-based prohibition order and two prohibition notices. The individuals named below are permanently prohibited from participating in the affairs of any federally insured depository institution.
Issued a Notice of Prohibition was Raul Villareal, a former employee of MERCO Credit Union in Merced, Calif., entered a conditional plea of guilty in Merced County Superior Court, Calif., on one count of Attempted Grand Theft by Embezzlement, under California Penal Code §§ 664/487(b)(3).
Also issued a Notice of Prohibition was Ana Alicea, a former employee of Greater Alliance Federal Credit Union in Paramus, N.J., who entered a pretrial diversion program for the charge of Theft of Movable Property by Unlawful Taking valued between $500 – $74,999 (N.J.S.A 2C:20-3(a)).
Long-Running Scam Alleged
Issued the Order of Prohibition was Brain Socha, a former employee of MassMutual FCU in Springfield, Mass., who, agreed and consented to the issuance of a prohibition order and agreed to comply with all its terms to settle and resolve the NCUA Board’s claim against him.
As the CU Daily reported here, U.S. Attorney Leah B. Foley said Socha, 45, agreed to plead guilty to one count of bank fraud.
Socha worked as a loan officer at the $329-million MassMutual Federal Credit Union.
According to the charging document, Socha hacked into coworkers’ computers on more than 20 occasions to covertly raise the credit limit and lower the interest rate on a MassMutual home equity line of credit on the home he owned with his wife.
The computer system would reflect that one of the coworkers had made the change, according to the charging document, the U.S. Attorney said.
Between February 2018 and November 2023, authorities said Socha increased the home equity line of credit limit from $135,500 to $995,000 and adjusted the home equity line of credit limit interest rate from 7.25% to 1.99%.
