FOR IMMEDIATE RELEASE August 12, 2011
CHARLESTON MAN PLEADS GUILTY TO STEALING GOVERNMENT BENEFITS
CHARLESTON, W.Va. – Michael Scyoc, 35, of Charleston, pleaded guilty yesterday in federal court before United States District Judge Thomas E. Johnston to stealing $16,000 from the West Virginia Teacher’s Retirement Plan. Scyoc, formerly employed as a loan manager by the West Virginia Consolidated Public Retirement Board, admitted that he used his position to issue loan checks from the Teacher’s Retirement Plan for individuals who were not entitled to the funds. At Scyoc’s direction, several checks were cashed unlawfully and the majority of the proceeds from the checks were taken by the defendant.
Scyoc faces up to 10 years in prison and a $250,000 fine.
The investigation was conducted by the West Virginia State Police and the West Virginia Commission on Special Investigations. Assistant United States Attorney Susan Robinson is in charge of the prosecution.
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