ROCHESTER, N.Y. – A 37-year-old man pleaded guilty to financial institution fraud, which carries a maximum penalty of 30 years in prison and a $1,000,000 fine.

Between September 2021 and February 2022, Michael Torres was employed as a relationship manager at Financial Institution 1.

During his time in this position, the Assistant U.S. Attorney says Torres applied for 19 loans for a total of $168,000 under the names of people without them knowing or approving it. The money was deposited into bank accounts that he controlled.

Torres sentencing will be scheduled at a later date.