Credit union employee used members’ info to steal $2 million from accounts, feds say
An Indiana man has been sentenced to prison after officials said he was a part of a scheme to steal over $2 million from credit union members.
Jose Prado-Valero, 35, pleaded guilty to financial institution fraud, according to a May 15 news release from the U.S. Attorney’s Office for the Southern District of Indiana.
According to officials, Prado-Valero was working in 2019 as an automated clearing house coordinator at a credit union. His position gave him access to members’ personal information.
On Feb. 14, 2019, Prado-Valero was approached by people who didn’t work at the credit union. They asked for his help to steal money from members of the bank, officials said.
“The co-conspirators promised to pay Prado-Valero a portion of the fraud proceeds if he stole members’ identity and account information,” officials said.
Prado-Valero agreed to be a part of the scheme, according to the attorney’s office.
“Between February 14, 2019, and August 16, 2019, Prado-Valero and accomplices successfully made 34 fraudulent transfers to themselves out of credit union members’ accounts, in the aggregate amount of $2,078,725. Prado-Valero was paid over $100,000 by his co-conspirators for his role in the scheme,” officials said.
As part of his plea deal, Prado-Valero is required to pay back $2,132,517 in restitution, according to officials.
An attorney was not listed for Prado-Valero in court records.
This story was originally published May 16, 2024 at 1:12 PM with the headline "Credit union employee used members’ info to steal $2 million from accounts, feds say."
