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INDIANAPOLIS (WISH) — A former employee of a credit union in Carmel has been sentenced to federal prison after pleading guilty to financial institution fraud.

Jose Prado-Valero, 35, served as a Automated Clearing House coordinator at a credit union beginning in 2019. He has been sentenced to 33 months in federal prison, followed by two years of supervised release. He must also pay $2,132,517 in restitution.

According to a release from the U.S. Department of Justice, Prado-Valero was sought out by individuals not employed by the credit union to assist in a scheme to defraud the financial institution and steal money held in member accounts. The co-conspirators promised to pay him a portion of the fraud proceeds if he stole members’ identity and account information.

Between Feb. 14, 2019, and Aug. 16, 2019, Prado-Valero and accomplices made 34 fraudulent transfers to themselves out of credit union members’ accounts. Prado-Valero was paid over $100,000 by his co-conspirators for his role in the scheme.

“Account holders and financial institutions depend on people in positions of trust to keep their information and money safe,” said Zachary A. Myers, U.S. Attorney for the Southern District of Indiana. “This corrupt employee facilitated the theft of millions of customer dollars to satisfy his own greed. The serious federal prison sentence imposed demonstrates that the FBI and the U.S. Attorney’s Office are watching, and those who abuse positions of trust to line their pockets at the expense of others will be held accountable.”

The FBI investigated this case. The sentence was imposed by Chief U.S. District Court Judge Tanya Walton Pratt.