BENTON, Ill. — A former vice president of a local bank was ordered Wednesday in federal court in Benton to pay more than a half-million dollars in restitution to multiple insurance companies and individual victims of his fraud and arson scheme.

In April, 53-year-old Richard “Rick” B. Pigg admitted in April to a scheme using his position to fraudulently obtain more than a half-million from Community First Bank of the Heartland. Pigg was subsequently sentenced to 12 years in prison.

Of the 11 counts originally filed against him, Pigg pleaded guilty to nine. While he was Vice-President and Loan Officer at Community First Bank he fraudulently obtained more than $600,000 from the bank to purchase investment properties and pay personal expenses, such as his personal credit card, and his ex-wife’s.

As part of his scheme, Pigg asked multiple bank customers to purchase rental properties in their names but on his behalf, through mortgage loans financed at Community First, and that he would secure tenants, collect the rent and maintain the properties for them.

Pigg ultimately admitted to securing and approving six such loans and then increasing the loan amounts by thousands of dollars above the purchase prices of the rental properties without the loan customers’ knowledge.

He then deposited the subsequent cashier’s checks for those loans into his personal bank account at People’s National Bank which was held with his mother. He also admitted to setting fire to some of those properties in January and February 2016.

The restitution order was delayed while the court waited for the amount owed to the owner of a neighboring property that was damaged in one fire. The largest single amount he owes is more than $190,000 to one insurance company.