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Former Pennsylvania CEO accused of fraud accepts plea deal

When a person is accused of a crime, he or she must make several important decisions about the case. Perhaps most importantly, a decision whether to fight the charges in court or accept plea deal, if one is made available. Federal prosecutors have recently announced that one man in Pennsylvania, the former CEO of a credit union, has recently accepted a plea deal in a case involving fraud.

The case involves a 33-year-old man who served as the CEO of Valor Federal Credit Union. Federal investigators say that the man stole over $700,000 from the credit union over the course of a year. The U.S. Attorney's Office says he used the money to sponsor a golf tournament, fund a party for his wife and pay for his college tuition.

Investigators also say that he attempted to take even more money from the credit union through a severance agreement that they claim is fraudulent. It was recently disclosed that the man has accepted a plea deal. The terms of that deal are unclear.

Cases involving accusations of fraud are often complex and require assistance from an attorney with experience regarding white collar crimes. It is not uncommon for defendants in Pennsylvania facing such charges to choose to plead guilty only because they are aware that there is sufficient evidence to prove guilt. While the details of the plea agreement have yet to be released, the defendant is likely focused on the sentencing phase of the case and creating an argument to receive the most lenient sentence allowed under federal guidelines.

Source:, "Former Credit Union CEO Accused of Bank Fraud", Sharla McBride, June 15, 2016

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