Man Stole $360,000 From Bristol Company, Gets Prison (ICYMI)

BRISTOL, PA — A former employee of a Bristol company is headed to prison for a fraud scheme in which he stole more than $360,000 from the company.

Matthew Chancler, 57, of Pottstown, was sentenced Wednesday to 18 months in prison by U.S. District Court Judge Michael Baylson.

Chancler was an accountant and director of finance for United Chemical Technologies in Bristol. In that role, he oversaw the financial operations of the company, including accounts payable, accounts receivable, payroll and auditing.

During a roughly two-year period from 2016 to 2018, Chancler used company credit cards for more than 1,800 personal purchases and made more than 400 cash withdrawals from ATMs. He disguised the true nature of the transactions in the company's financial records to cover his tracks, federal prosecutors say.

The personal purchases included clothing, electronics, food, travel, jewelry, sports equipment and entertainment. He also manipulated the company's payroll system to make more money for himself, according to prosecutors. They say his scheme put the company in financial jeopardy and "caused its officers and employees substantial hardship."

"Chancler abused his position of authority and trust for nothing more than his own greed," said U.S. Attorney William McSwain. "Companies rely on professionals to maintain the finances of their organization and to act as good stewards – not to break the law to line their own pockets."

The case was investigated by the FBI and is being prosecuted by Assistant United States Attorney Louis D. Lappen.