Patrick Pinto, a former vice president at Oxford Collection Agency, was arrested on a federal criminal complaint charging him with conspiracy to commit bank bribery during his time with the company.

Pinto was arrested Friday and appeared before U.S. Magistrate Judge Holly B. Fitzsimmons in Bridgeport, Ct. He was released on a $50,000 bond.

Between 2007 and 2011, Oxford executives allegedly engaged in a multi-year scheme to defraud its lender, Connecticut-based Webster Bank, as well as its investors, clients and the commercial debtors that Oxford collected from, according to federal officials.

The complaint also alleges that Oxford executives were engaged in a bribery scheme with an official at U.S. Bank in order to obtain and retain the bank's business. As part of the scheme, Pinto and others at Oxford made monthly payments of between $2,500 and $5,000, which were hidden in cigar boxes, to the U.S. Bank official.

The complaint further alleges that Pinto and others bribed an official at another unnamed bank. That bank official would come to Oxford's offices on Fridays, meet with Pinto, and receive his payments.

Richard Pinto, Oxford’s Chairman, and his son, Peter Pinto, Oxford’s President and CEO, each pleaded guilty in May to one count of conspiracy to commit wire fraud, bank fraud and money laundering and one count of wire fraud stemming from a $10 million fraud scheme they executed while executives at Oxford. They have yet to be sentenced.

Patrick Pinto is the son of Richard Pinto and the brother of Peter Pinto. He could not immediately be reached for comment.

Oxford was a private financial services company that was mostly involved in collections work. It had offices in New York, Pennsylvania and Florida.

The Internal Revenue Service, the Federal Bureau of Investigation, the Special Inspector General for the Troubled Asset Relief Program and the Connecticut Securities, Commodities, and Investor Fraud Task Force were among the agencies involved in the investigation.

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