Post by privateinvestors on Jun 16, 2016 15:12:44 GMT 4
SCRANTON -- The former head of a credit union is now charged with defrauding the place out of more than $700,000.
The U.S. Attorney’s Office for the Middle District of Pennsylvania announced the charges Wednesday afternoon against the former head of what's now called Valor Federal Credit Union
The feds say the ex-CEO has made a plea agreement.
The U.S. attorney accuses Sean E. Jelen, 33, of committing bank fraud for nearly a year while he was CEO of what was then Tobyhanna Federal Credit Union.
He's accused stealing approximately $718,000 and trying to take even more.
Federal prosecutors say while Jelen was running the bank, he had a scheme that used the money for his personal credit cards, his spouse’s birthday party, tuition, and a golf tournament.
He is also charged with trying to rig elections for the bank's board of directors and set up a fraudulent severance deal to pay him more than a million dollars if he was terminated.
The bank terminated his employment in August. It doesn't appear he got that money.
The U.S. attorney said Jelen has made a plea agreement, but the details of it have not been released.
