Feds: Pottstown man stole $350K from employer

PHILADELPHIA >> A Pottstown man is facing federal charges after authorities say he used a company credit card to make over 1,800 personal purchases totaling hundreds of thousands of dollars.

Matthew Chancler, 57, of Pottstown, has been charged with one count of wire fraud, according to the United States Attorney’s Office.

Authorities said Chancler was a certified public accountant and the director of fnance for an unnamed company located in Bristol, Bucks County. 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, authorities claim 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.”

The personal purchases included clothing, electronics, food, travel, jewelry, sporting equipment, and other personal items and entertainment. In total, authorities allege Chancler stole over $350,000 through the fraudulent use of the cards.

The U.S. Attorney’s Office for the Eastern District also claims Chancler 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 allegedly 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 William 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, Chancler 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 in Philadelphia.