BROOKLYN, N.Y. (CN) – Former Bank of America branch manager Oscar Sanchez, 39, was sentenced to 63 months in prison after pleading guilty to accepting $100,000 in cash bribes in return for helping a ring of con-artist defraud the bank of more than $2 million.
The ex-banker helped Tahir Ali Khan and his cohorts apply for business loans and advice about “what documents and materials they would need to produce in order to carry out the scheme,” according to a statement issued by the U.S. Attorney’s Office.
“This institutional knowledge,” the statement says, “helped the Khan Ring to succeed in committing bank fraud not only at Bank of America but at other institutions as well.”
Janice Oh, a spokeswoman for the U.S. Attorney’s Office, said that the identities of those institutions are not open to the public.
In addition to his prison sentence, Sanchez faces 5 years of supervised release and has to pay his former employer the amount it was defrauded.