Former Credit Union CEO Charged With Fraud
The former CEO of Valor Federal Credit Union was charged with executing a scheme to defraud the credit union of approximately $718,000 to pay for his personal credit card, college tuition, his wife's birthday party, and a golf tournament sponsorship.
SCRANTON, Pa. — The former CEO of Valor Federal Credit Union, formerly known as Tobyhanna Federal Credit Union, was charged with executing a scheme to defraud the credit union of approximately $718,000 to pay for his personal credit card, college tuition, his wife’s birthday party, and a golf tournament sponsorship, the U.S. Attorney’s Office for the Middle District of Pennsylvania announced last Wednesday.
Filed in the U.S. District Court there, the complaint charges Sean E. Jelen, 33, of committing and attempting to commit a series of fraudulent activities. He was also charged with rigging elections held for the Valor board of directors, “whereby he elected and subsequently impersonated fictitious members of the board of directors and its supervising committee,” stated the U.S. Attorney’s Office’s press release.
Jelen was also charged with attempting to obtain another $1.1 million by forging a severance contract that would be triggered by his termination.
The complaint seeks forfeiture of property obtained as a result of the fraud, including a residence located in New York. The government also filed a plea agreement with Jelen to the alleged charges, which is subject to approval of the court. A date for his initial appearance has not been set.
Jelen was appointed president and CEO of Valor in 2012 at the age of 29. He began his fraud in July 2014 and continued his scheme until August 2015, the same month Valor terminated his employment.
Originally posted on F&I and Showroom
More Dealer Ops

Dealer Debrief: Defection Data & EV Updates
In this week's debrief, host Lauren Lawrence discusses how to use defection data to your advantage and the latest on EV sales and charging infrastructure.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Dealer Debrief: Where are you losing customers?
In this week's debrief, host Lauren Lawrence discusses the hidden leaks in dealerships where you might be losing customers without even realizing it.
Read More →
Dealer Debrief: Improving Your Inventory Management
In this week's debrief, host Lauren Lawrence covers a new survey that shows what service technicians really want and two launches that could help improve your inventory and vehicle life cycle management.
Read More →
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
What Market Timing Mistakes Mean for Your Reinsurance Program
When volatility hits, dealer-owned reinsurance programs face a familiar temptation: pull back and wait for calmer waters. New data from BOK Financial shows why that instinct can quietly cost you years of surplus growth.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
