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<p>SCRANTON &#8212; The former CEO of Valor Credit Union pleaded guilty to bank fraud and attempted bank fraud Thursday according to a press release from the Middle District of Pennsylvania.</p><p>Sean Jelen, 33, of South Abington Township, admitted in court to using funds from the company to pay his credit card bills, tuition bills, his spouse&#8217;s birthday party and a golf tournament sponsorship.</p><p>Jelen also admitted to attempting to obtain $1.14 million through a forged severance contract with Valor, as well as rigging elections for the Valor board of directors and fabricating a person elected to the supervisory committee of the board.</p><p>The website of Valor Credit Union, formerly Tobyhanna Federal Credit Union, says it serves over 24,000 people in Pennsylvania and is connected to Tobyhanna Army Depot. The Army Depot, located in Monroe County, is the &#8220;largest industrial employer&#8221; in the region with 3,800 employees, according to its website.</p><p>Valor terminated Jelen&#8217;s employment in August of 2015 in a memo to employees from board of directors chair, Kara Badryka. The memo did not offer a reason for Jelen&#8217;s termination.</p><p><a href="https://www.timesleader.com/news/560167/feds-look-to-seize-beachfront-queens-co-op-from-former-credit-union-ceo" target="_blank">The Times Leader reported in June</a> that Jelen also used some of the funds stolen from Valor to purchase a $600,000 co-op in Queens. Federal prosecutors are seizing the Queens property as part of the plea agreement.</p><p>United States Magistrate Judge Karoline Mehalchick allowed Jelen to remain on pre-trial release, but with travel restrictions and passport surrender, until sentencing.</p><p>Under the plea agreement, filed in the U.S. District Court in Scranton, Jelen faces up to 30 years in prison and a $1 million fine on each count.</p><style>
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<div class="metaInfo"><bylineMeta><p>By Brigid Edmunds</p><p>bedmunds@www.timesleader.com</p></bylineMeta></div><div class="metaInfo"><shirttailMeta><p>Reach Brigid Edmunds at 570-991-6119 or on Twitter @TLNews</p></shirttailMeta></div>

Former CEO of Valor Credit Union pleads guilty to bank fraud charges