Former Charleston bank exec pleads guilty to embezzlement scheme - Beckley, Bluefield & Lewisburg News, Weather, Sports

Former Charleston Chase Bank exec pleads guilty to embezzlement scheme

Posted: Updated:
  • LawMore>>

  • Lena Lunsford arrested in connection with her toddler Aliayah's 2011 disappearance

    Lena Lunsford arrested in connection with her toddler Aliayah's 2011 disappearance

    Thursday, November 3 2016 3:25 PM EDT2016-11-03 19:25:13 GMT

    Lena Lunsford was taken into custody by authorities in Pinellas County, Fla., where she is awaiting extradition on a charge of death of a child by a parent by child abuse,  Lewis County, WV, Sheriff Adam Gissy told The Exponent Telegram.

    Lena Lunsford was taken into custody by authorities in Pinellas County, Fla., where she is awaiting extradition on a charge of death of a child by a parent by child abuse,  Lewis County, WV, Sheriff Adam Gissy told The Exponent Telegram.

  • Greenbrier County, WV, business owner admits pocketing money intended to pay employment taxes

    Greenbrier County, WV, business owner admits pocketing money intended to pay employment taxes

    Thursday, November 3 2016 1:59 PM EDT2016-11-03 17:59:28 GMT
    CHLOE DAWSON/ The State JournalCHLOE DAWSON/ The State Journal

    Brandon J. Black, 32, of Rainelle, WV, owned and operated a private security business in Lewisburg that provided services to businesses and individuals throughout West Virginia.

    Brandon J. Black, 32, of Rainelle, WV, owned and operated a private security business in Lewisburg that provided services to businesses and individuals throughout West Virginia.

  • Inmate at federal prison in Glenville, WV, admits assaulting CO

    Inmate at federal prison in Glenville, WV, admits assaulting CO

    Wednesday, September 28 2016 9:53 AM EDT2016-09-28 13:53:20 GMT
    CHLOE DAWSON/ The State JournalCHLOE DAWSON/ The State Journal

    U.S. Attorney William J. Ihlenfeld II said Robert Fleming, 30, intended to harm the correctional officer in the June 2014 assault.

    U.S. Attorney William J. Ihlenfeld II said Robert Fleming, 30, intended to harm the correctional officer in the June 2014 assault.

A former Charleston J.P. Morgan Chase Bank executive has pleaded guilty to embezzling more than a half million dollars from his employer, U.S. Attorney Booth Goodwin recently announced.

Mark Alan McCoy, 46, who served as a vice president of private client banking services at the Charleston branch from September 2008 to June 2012, pleaded guilty in federal court March 26 to embezzlement by a bank officer.

According to Goodwin's news release, McCoy admitted that from Nov. 30, 2009, through April 19, 2012, he stole money from approximately nine separate personal and corporate bank clients' accounts.

Federal prosecutors say McCoy created an unauthorized cashier's check from a client's corporate bank account for $59,000, making it payable to Moses Automotive dealership.

McCoy took that cashier's check and purchased a Cadillac Escalade with the proceeds, the news release says.

Additionally, he created another unauthorized cashier's check from a client account for $22,000 and deposited it into another client's account to pay for a 1968 Chevrolet Camaro.

In total, the news release says, McCoy admitted to taking $535,395.59 from Chase. The actual loss to Chase Bank after accounting for funds that McCoy deposited into client accounts and other funds that the bank was able to recover is $447,784.45.

McCoy faces up to 30 years in prison and a $1 million fine when he is sentenced July 17.  

Powered by Frankly