Vexed judge orders arrest warrant for former CU CEO

by Peter Strozniak, CU Times

A vexed federal judge issued an arrest warrant for a former credit union CEO who failed to show up at his sentence hearing Monday for bank fraud and attempted brank fraud.

Sean Jelen, 35, the former president/CEO of the merged $227 million Valor Federal Credit Union pleaded guilty to bank fraud and attempted bank fraud in July 2016. He embezzled $718,000 to pay for credit card bills, college tuition, his spouse’s birthday party and a golf tournament sponsorship. He also tried to steal $1.1 million by creating a forged severance contract before the board of directors fired him in August 2015.

Jelen was originally scheduled to be sentenced in November 2016, but the hearing did not take place, and it has been postponed ever since. It wasn’t until November 2017 when Jelen’s case was transferred to U.S. District Court Judge Malachy E. Mannion in Scranton, Pa. who agreed to delay the sentencing date a few times.

 

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