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Press Release

Finance Director for Bucks County-based Company Charged with Wire Fraud

For Immediate Release
U.S. Attorney's Office, Eastern District of Pennsylvania

PHILADELPHIA – U.S. Attorney William M. McSwain announced that Matthew Chancler, 57, of Pottstown, Pennsylvania was charged by Information today with one count of wire fraud. The defendant was a Certified Public Accountant and the Director of Finance for an unnamed company located in Bristol, Pennsylvania. In this role, Chancler oversaw the financial operations of the company: accounts payable, accounts receivable, payroll, and auditing.

During an approximately two-year period, from August 2016 through July 2018, Chancler abused his position of trust 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. In total, the defendant stole over $350,000 through his fraudulent use of the cards.

Chancler also manipulated the company’s payroll system to add additional funds to his own paycheck, citing them as “miscellaneous non-taxable income”. During the same time period, Chancler added several hundred dollars to each paycheck, totaling approximately $12,500.

“What’s most apparent here is the defendant’s alleged greed and willingness to abuse his position of authority,” said U.S. Attorney 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, the defendant faces a maximum possible sentence of 20 years in prison.

The case was investigated by the Federal Bureau of Investigation, and is being prosecuted by Deputy United States Attorney Louis D. Lappen.

An indictment, information, or criminal complaint is an accusation. A defendant is presumed innocent unless and until proven guilty.


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Updated May 17, 2019

Financial Fraud