For taking greater than $100,000 in money kickbacks throughout a six-month $2.1 million wire fraud scheme whereas he labored as a former credit score union ACH coordinator on the $872 million Monetary Heart First Credit score Union (FCFCU) in Indianapolis, Jose A. Prado-Valero is at the moment serving a 33-month federal jail sentence in Terre Haute.
After he pleaded responsible to at least one felony rely of economic establishment fraud, he was sentenced in April. He additionally was ordered to pay $2,132,517 in restitution, in line with courtroom paperwork.
In 2019, Prado-Valero was approached by co-conspirators trying to launch a plan to defraud FCFCU and steal cash from member accounts. The co-conspirators, who weren’t recognized in courtroom paperwork and weren’t credit score union staff, promised to pay Padro-Valero kickbacks for his participation within the scheme.
He agreed to entry member account data previous to offering personally identifiable data to his co-conspirators to make sure that there have been adequate funds within the focused accounts to assist the fraudulent transfers.
From Feb. 14 to Aug. 16, 2019, Prado-Valero and his co-conspirators transacted 34 fraudulent ACH transfers to themselves out of FCFCU member accounts, and Prado-Valero acquired greater than $100,000 in money kickbacks. Courtroom paperwork didn’t point out what number of co-conspirators have been concerned within the scheme or whether or not they have been arrested and charged.
Beginning in April 2019 by means of February 2021, she used VVAFCU’s bank card processing software program, and with out authorization, opened and issued a bank card in her title, courtroom paperwork confirmed.
She manipulated the processing software program to grant herself privileges reminiscent of eradicating greenback limits on her bank card balances, excusing herself from late charges and curiosity penalties on overdue balances, and eliminating necessities that she make a minimal fee towards any unpaid balances, in line with the indictment. Thibodeau additionally manipulated the credit score union’s inner cardholder journal experiences to hide the fraud from her supervisors.
VVAFCU detected the fraud and fired her in April 2022.
The credit score union was merged into the $402 million 802 Credit score Union in Barre, Vt., final 12 months.