The former CEO of the $231 million Valor Federal Credit Union isfacing up to 60 years in prison after pleading guilty to bank fraudand attempted bank fraud Thursday in U.S. District Court inScranton, Pa.
Sean E. Jelen, 33, admitted to committing a series offraudulent schemes from July 2014 to August 2015, federalprosecutors said.
He embezzled $718,000 to pay for credit card bills, collegetuition, his spouse's birthday party and a golf tournamentsponsorship. He also tried to steal $1.1 million by creating aforged severance contract before he was fired by the board ofdirectors in August 2015.
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