A Montgomery County man has been charged after alleged committing fraud against his Bristol Township employer.
Matthew Chancler, 57, of Pottstown, was charged by the U.S. Attorney’s Office for the Eastern District of Pennsylvania on Friday with one count of wire fraud.
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Chancler, a certified public accountant and director of finance for an unnamed Bristol Township firm, allegedly used his company-issued credit cards for over 1,800 personal purchases and over 400 cash withdrawals from ATMs. He allegedly hid the true nature of his purchases in the company’s financial records, federal authorities said.
An FBI investigation uncovered that the personal purchases made on the company’s dime included clothing, electronics, food, travel, jewelry, sporting equipment, personal items, and entertainment.
The total amount of company money used by Chancler on company credits cards was $350,000. He also added several hundred dollars to each paycheck, totaling approximately $12,500, authorities said.
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“What’s most apparent here is the defendant’s alleged greed and willingness to abuse his position of authority,” said U.S. Attorney William McSwain. “Businesses rely on professionals to maintain the financial health of their operations, as well as to abide by the law – not funnel money for their own personal use.”
If convicted, Chancler faces as much as 20 years in prison.
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