News and Press Releases

Vice-President Indicted for Bank Embezzlement

March 28, 2013

HOUSTON – A Houston man has appeared for arraignment in a 12-count indictment alleging bank embezzlement, United States Attorney Kenneth Magidson announced today.

A federal grand jury returned the sealed indictment against Shawn Nelson, 39, on Feb. 20, 2013. He was arrested Friday, March 22, 2013, made his initial appearance the following Monday and was arraigned today by U.S. Magistrate Judge Frances Stacy. He was permitted release pending further criminal proceedings.

According to the indictment, Nelson was a vice-president of lending at Members Choice Credit Union. From 2001 through 2009, Nelson allegedly opened signature loan accounts in his friends’ and family members’ names without their authorization and subsequently began withdrawing money from those accounts. By the time the fraud was discovered, Nelson had withdrawn more than $340,000, according to allegations in the indictment.

If convicted, he faces up to 30 years in prison as well as a possible $1 million fine for each count. The United States is also seeking forfeiture of approximately $340,000.

The investigation was conducted by the U.S. Secret Service. The case is being prosecuted by Assistant United States Attorney Sharad S. Khandelwal.

An indictment is a formal accusation of criminal conduct, not evidence.
A defendant is presumed innocent unless convicted through due process of law.

Justice 101
USAO Homepage
USAO Briefing Room
Community Outreach

We are currently accepting applications for Law Student Interns. Click for more info.

Law Enforcement Coordinating Committee

Training and seminars for law enforcement agencies.

Project Safe Childhood

Help us combat the proliferation of sexual exploitation crimes against children.