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

According to U.S. District Court documents, between 2004 and 2009 Michael Dicenzo approved loans at the $1.1 billion Greylock in Pittsfield, Mass. During that time, he authorized nearly 20 loans and lines of credit union for an unidentified local businessman that exceeded the credit union's thresholds. The total dollar amount of approved loans was not known.

The businessman supposedly operated and owned several real estate and construction development companies that had accounts at Greylock.

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

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

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

A comment from Greylock was not immediately available.

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