The former Director of Finance for United Chemical Technologies in Bristol Township will spend the next 18 months in prison. His actions put the company in serious “financial jeopardy.”
Matthew Chancler, 57, of Montgomery County was sentenced Wednesday for engaging in fraud at the expense of his employer.
U.S. Attorney William McSwain says Chancler made 1,800 personal purchases and over 400 cash withdrawals from ATMs using the company credit card. Chancler also manipulated th payroll system for his benefit. The clothes, jewelry, and travel costs with the payroll siphoning amounted to about $360,000 over an almost two year period beginning in August of 2016.
“Chancler abused his position of authority and trust for nothing more than his own greed,” said U.S. Attorney 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.”
UTC is located on the 2700 block of Bartram Road in Bristol Township. Despite Chancler’s fraud causing officers and employees “substantial hardship,” the business is still operating.