A Montgomery County man has been sentenced to 18 months in federal prison for engaging in a fraud scheme that impacted his Bristol Township employer.
Matthew Chancler, 57, was sentenced by U.S. District Court Judge Michael Baylson on Wednesday morning.
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Chancler worked as an accountant for United Chemical Technologies, a specialty chemicals manufacturer, on Bartram Road and oversaw the company’s financial operations, federal prosecutors said.
From federal authorities:
During an approximately two-year period, from August 2016 through July 2018, Chancler abused his position of trust on a regular and systematic basis by using company issued credit cards for over 1,800 personal purchases and over 400 cash withdrawals from ATMs, while disguising the true nature of these transactions in the company’s financial records in order to cover his tracks. Those personal purchases included clothing, electronics, food, travel, jewelry, sporting equipment, and other personal items and entertainment. He also manipulated the company’s payroll system to generate additional fraud proceeds. In total, the defendant stole over $360,000 through his fraudulent use of the cards and manipulation of the payroll system. The defendant’s scheme put the company in financial jeopardy and caused its officers and employees substantial hardship.
“Chancler abused his position of authority and trust for nothing more than his own greed,” U.S. Attorney for the Eastern District of Pennsylvania William McSwain said in a statement. “Companies rely on professionals to maintain the finances of their organization and to act as good stewards – not to break the law to line their own pockets.”
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