Two men were arrested yesterday and charged in federal court in Boston in connection with illegally using the identity of another individual to apply for two business loans.

Igor Mosieev, 59, of Newton, was indicted on two counts of bank fraud and one count of aggravated identity theft. Alexander Grinis, 47, of Jamaica Plain, was charged in the same indictment with one count of false statements on loan applications. Mosieev and Grinis were arrested yesterday morning and appeared in federal court in Boston in the afternoon.

Grinis was the manager of Eastern Bank in Auburndale, according to the indictment. Among his responsibilities were assisting customers with opening and closing accounts and applying for loans and lines of credit.

Grinis assisted Mosieev in opening a checking and savings account at Eastern Bank in approximately February 2015 with the license and Social Security card of another individual, without the knowledge or consent of that person. Later that year, Grinis assisted Mosieev in adding the individual to a business account in the name of TFC Enterprises LLC.

Thereafter, Moiseev forged the individual’s name on applications for two purported business loans. On each loan application, Grinis falsely certified that he had complied with all bank procedures and, as a result, the loans were approved. The proceeds of the two loans were subsequently distributed to the business checking account and Moiseev forged the individual’s name on checks and withdrew money from the account to pay for his own personal expenses.

With Grinis’ assistance, Moiseev caused proceeds from the business checking account to be wire transferred to Russia, Canada and elsewhere overseas using the individual’s name. Both loans defaulted and were never paid back to Eastern Bank, resulting in a loss of over $90,000.