SCRANTON, LACKAWANNA COUNTY (WBRE/WYOU) There is shock and disbelief from customers of the Valor Federal Credit Union — after Sean Jelen, the company’s former CEO, was charged Wednesday on bank fraud charges and attempted bank fraud charges.
Federal investigators say Jelen took more than $700,000 from the credit union, using the money to pay his personal credit card, his graduate tuition at Temple University. $30,000 was used for his spouse’s birthday party.
“Its a crying shame. It’s a crying shame that they’re not monitored more closely that they could get away with something like that,” John Pallien, a bank customer said.
Investigators say Jelen also rigged the elections that were held for the Valor Board of Directors, and later impersonating the fake members.
“I can’t…I can’t imagine that. I just can’t,” Marty Coar, a bank customer said.
Investigators say Jelen used $20,000 to buy a grandfather clock for his house. He also tried to disguise $25,000 golf tournament sponsorship as a donation to a Scranton soup kitchen.
“I hope he gets what he deserves. I really do. With a white collar crime, they kind of chalk it up — you don’t see the results of these investigations,” John Pallien, a bank customer said.