News and Press Releases

Bank Director Charged with Embezzling $336K in Bank Funds

FOR IMMEDIATE RELEASE
March 21, 2014

PITTSBURGH - A former bank director has been indicted by a federal grand jury in Pittsburgh on a charge of theft, embezzlement and misappropriation by a bank officer or employee, United States Attorney David J. Hickton announced today.

The nine-count indictment, returned on March 19, named Michael P. Bernick, 50, of Pittsburgh, Pa., as the sole defendant.

According to the indictment, Bernick, a Director of Metropolitan Savings Bank, the deposits of which were insured by the FDIC, from April 19, 2005 through March 27, 2006, embezzled and misapplied bank monies and funds on nine occasions, totaling approximately $336,000. The indictment alleges that the monetary disbursements were made in the form of checks and wire transfers.

The law provides for a maximum total sentence of 30 years in prison, a fine of $1,000,000 or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

Assistant United States Attorney Carolyn J. Bloch is prosecuting this case on behalf of the government.

The Federal Deposit Insurance Corporation and the Federal Bureau of Investigation conducted the investigation leading to the indictment in this case.

An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.

Return to Top

USAO Homepage
USAO Briefing Room
Justice 101
Red Ribbon Week October 23-31
National Domestic Violence Awareness Month

Western District of Pennsylvania

honors October 2014 as

National Domestic Violence
Awareness Month

If you or someone you know
has been a victim of domestic violence please contact the
National Domestic Violence
Hotline at:

1.800.799.SAFE(7233)
1.800.787.3224(TTY)

LEARN MORE

Opioid Overdose Reduction Action Plan
Text PGHOD to Tip411 (847411)