Philippi Resident Sentenced on Bank Fraud Charge

WHEELING, WV—A 50-year-old Philippi, West Virginia resident was sentenced on March 19, 2010, in United States District Court in Wheeling by Chief Judge John Preston Bailey.

Acting United States Attorney Betsy C. Jividen announced that PATRICIA POE was sentenced to 21 months’ imprisonment, to be followed by five years of supervised release, and ordered to pay restitution in the amount of $257,854.87. POE entered a plea of guilty on September 8, 2009, 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 is currently free on bond pending designated to a federal institution.

The case was prosecuted by Assistant United States Attorney Andrew R. Cogar. The case was investigated by the Federal Bureau of Investigation.