Philippi Resident Pleads Guilty to Bank Fraud
| U.S. Attorney’s Office September 18, 2009 |
ELKINS, WV—A 49-year-old Philippi, West Virginia resident entered a plea of guilty on September 8, 2009, in United States District Court in Elkins before Judge Robert E. Maxwell.
United States Attorney Sharon L. Potter announced that PATRICIA POE entered a plea of guilty to one count of an Indictment charging her with bank fraud. Specifically, POE, who was Vice-President of First Central Bank (formerly called “The Bank of Philippi”), engaged in a scheme to embezzle funds between 1998 and 2003 by issuing unauthorized and unfunded cashier’s checks, unauthorized loans, and unauthorized lines of credit. POE’s fraudulent conduct resulted in approximately $600,000 of actual loss, but she has since reimbursed First Central Bank for approximately $250,000 of that amount.
POE, who is currently free on bond pending sentencing, faces a maximum penalty of 30 years’ imprisonment and a fine of $1,000,000.
The case was prosecuted by Assistant United States Attorney Andrew R. Cogar. The case was investigated by the Federal Bureau of Investigation.