Former credit union CEO pleads guilty to bank fraud charges
SCRANTON, Pa. (AP) — A former Pennsylvania credit union CEO accused of stealing about $718,000 from the company to furnish a lavish lifestyle has pleaded guilty to federal charges.
Thirty-three-year-old Sean Jelen of South Abington Township pleaded guilty Thursday to bank fraud and attempted bank fraud.
Investigators alleged last month that he used several schemes to defraud Valor Credit Union between July 2014 and August 2015 and also tried unsuccessfully to gain another $1.1 million by forging a severance contract.
Federal prosecutors said Jelen used the money to finance his wife's birthday party, his graduate school tuition and a $20,000 grandfather clock, among other expenses.
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