Home Pittsburgh Press Releases 2014 Bank Director Charged with Embezzling $336,000 in Bank Funds

Bank Director Charged with Embezzling $336,000 in Bank Funds

U.S. Attorney’s Office March 21, 2014
  • Western District of Pennsylvania

PITTSBURGH—A former bank director has been indicted by a federal grand jury in Pittsburgh on a charge of theft, embezzlement, and misappropriation by a bank officer or employee, United States Attorney David J. Hickton announced today.

The nine-count indictment, returned on March 19, named Michael P. Bernick, 50, of Camelia Street, Pittsburgh, Pennsylvania, 15201, as the sole defendant.

According to the indictment, Bernick, a director of Metropolitan Savings Bank, the deposits of which were insured by the FDIC, from April 19, 2005 through March 27, 2006, embezzled and misapplied bank money and funds on nine occasions, totaling approximately $336,000. The indictment alleges that the monetary disbursements were made in the form of checks and wire transfers.

The law provides for a maximum total sentence of 30 years in prison, a fine of $1,000,000 or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

Assistant United States Attorney Carolyn J. Bloch is prosecuting this case on behalf of the government.

The Federal Deposit Insurance Corporation and the Federal Bureau of Investigation conducted the investigation leading to the indictment in this case.

An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.

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