SCRANTON, Pa. — A federal judge has sentenced the former chief executive officer of a Pennsylvania-based credit union to nearly 6 years in prison for bank fraud and attempted bank fraud.
Sean Jelen of Breezy Point, New York, was CEO of Valor Federal Credit Union in Scranton from 2012 to 2015. The 35-year-old pleaded guilty in 2016 to defrauding and attempting to defraud Valor and several insurance companies.
Prosecutors say Jelen used altered bank records to obtain a $450,000 line of credit from Valor to conceal his mortgage liability, had the credit union pay $34,500 of his personal credit card debt, caused Valor to fund a $25,000 gold tournament at his alma mater and embezzled nearly $140,000.
The judge on Wednesday also ordered Jelen to pay nearly $695,000 in restitution.