Bristol Accountant Stole $350K In Company Funds: Feds

BUCKS COUNTY, PA — A Bucks County accountant has been charged after stealing hundreds of thousands of dollars from his company for numerous personal purchases, federal authorities said.

Matthew Chancler, 57, a Pottstown resident, served as the head of finanical operations and a Certified Public Accountant for a company in Bristol. In his position, he oversaw things like accounts payable, payroll, and auditing, according to the U.S. Attorney's Office.

From Aug. 2016 to July 2018, Chancler used company-issued credits to make a total of 1,800 personal purchases and more than 400 cash withdrawals from ATMs, authorities said.

He was able to disguise the nature of these transactions by editing the company's financial records, the U.S. Attorney's Office said.

The purchases were for various items, such as food, travel, clothing, electronics, sports equipment, entertainment, and more.

He also was able to add several hundred dollars to each paycheck by labeling the extra funds "miscellaneous non-taxable income," the U.S. Attorney said. All told, he added $12,500 during the two years in question.

He faces up to 20 years in prison if convicted of the charge of wire fraud.