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Legal briefs: Judge sentences ex-CEO of Pa. credit union to 24 months in federal prison

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Legal briefs: Judge sentences ex-CEO of Pa. credit union to 24 months in federal prison

S&P Global MarketIntelligence rounds up a selection of recent legal and regulatory developmentsin the bank space.

U.S.District Court Judge John Jones III sentenced former CEO andManager Sherry Garner to 24 months in federal prison for evading $19,069 infederal income taxes on money she embezzled from the York, Pa.-based credit union.


FormerScranton, Pa.-based Valor FederalCredit Union CEO Sean Jelen pleaded guilty to and attempted bank fraudbefore U.S. Magistrate Judge Karoline Mehalchick in Scranton, according to aJuly 14 press release from the U.S. Attorney's Office.


Miami-DadeCounty Circuit Court Judge Elizabeth Krier on July 5 approved a settlement of aforeclosure lawsuit filed by Doral, Fla.-based against former bankdirector Rodney Barreto and other defendants, the South Florida Business Journal reported July 14.


FormerFarmers Exchange BankPresident and CEO Geffrey Sawtelle was charged with executing a scheme todefraud the Neshkoro, Wis.-based bank and related criminal charges, accordingto a press release from the U.S. Attorney's Office.


TheFederal Home Loan Bank of SanFrancisco has entered into a settlement agreement with certaindefendants in connection with its private-label mortgage-backed securitieslitigation for $236 million.