News and Press Releases

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OFFICE OF THE UNITED STATES ATTORNEY
NORTHERN DISTRICT OF WEST VIRGINIA

Sharon L. Potter
UNITED STATES ATTORNEY


1125 Chapline Street, Federal Building, Suite 3000 ● Wheeling, WV 26003
(304) 234-0100 ● Contact: Fawn E. Thomas, Public Affairs Specialist

 

September 18, 2009
FOR IMMEDIATE RELEASE

Philippi Resident Entered Guilty Plea to Bank Fraud

ELKINS, WEST VIRGINIA — A 49 year old Philippi, West Virginia, resident entered a plea of guilty on September 8, 2009, in United States District Court in Elkins before Judge Robert E. Maxwell.

United States Attorney Sharon L. Potter announced that PATRICIA POE entered a plea of guilty to one count of an Indictment charging her with bank fraud. Specifically, POE, who was Vice-President of First Central Bank (formerly called “The Bank of Philippi”), engaged in a scheme to embezzle funds between 1998 and 2003 by issuing unauthorized and unfunded cashier’s checks, unauthorized loans, and unauthorized lines of credit. POE’s fraudulent conduct resulted in approximately $600,000 of actual loss, but she has since reimbursed First Central Bank for approximately $250,000 of that amount.

POE, who is currently free on bond pending sentencing, faces a maximum penalty of 30 years imprisonment and a fine of $1,000,000.

The case was prosecuted by Assistant United States Attorney Andrew R. Cogar. The case was investigated by the Federal Bureau of Investigation.