NORRISTOWN ? A former Blue Bell area accountant who ?lived high on the hog? at the expense of others is headed to jail for stealing more than $1 million from a client and nearly $60,000 from the Lower Gwynedd Little League where he was treasurer.
William L. McKernan III, 45, an employee of McKernan PC, bowed his head in obvious shame in Montgomery County Court on Wednesday as he was sentenced to 11�-to-23-months in the county jail, to be followed by five years? probation, after he pleaded guilty to seven felony counts of theft by deception in connection with incidents that occurred between March 2005 and February 2009.
?This is a series of very significant crimes,? said Judge William R. Carpenter, adding McKernan?s thefts from the Little League and a corporate client while holding a position of trust in the community cannot be excused.
McKernan, a married father of three who was a certified public accountant for the DeKalb Pike accounting firm that his father started 28 years ago, also must complete 100 hours of community service and pay $750,000 in outstanding restitution.
The judge said McKernan, who surrendered his accountant?s license but still works for his father?s business in other capacities, is eligible for the jail?s work release program but only after serving 60 days of his minimum sentence.
?My desire to live a life that was false was greater than my morals,? McKernan, his voice quivering with emotion at times, told the judge before learning his fate. ?I apologize profusely. I was thoughtless in my actions and I will do my best to make it right.?
McKernan, authorities alleged, was the primary accountant assigned to handle accounting duties for K.W. Reese Inc., a longtime client of the McKernan firm that allegedly was swindled by McKernan to the tune of nearly $1.5 million.
After his arrest for the Reese theft, officials of the Lower Gwynedd Little League, where McKernan, of Burgundy Circle, Whitpain, was treasurer since 2006, conducted an audit and determined McKernan systematically stole $56,955 to pay for personal expenses, according to a criminal complaint. The league was formed in 1959 as a means for boys and girls to learn the fundamentals of baseball.
Assistant District Attorney Kate McGill argued for a state prison sentence against McKernan. Prosecutors alleged McKernan lived a ?country-club lifestyle? on somebody else?s dime and used the stolen money to pay for golf trips to Nassau, Bahamas, Myrtle Beach, S.C., and Disney World and spent money at bars, restaurants and even a gentleman?s club. Continued...
?This is simply a case of greed. Mr. McKernan was living high on the hog at the expense of so many people. He was stealing right from under their noses. He was going to a gentleman?s club with the money that was supposed to be for children?s uniforms,? McGill argued, referring to funds stolen from the Little League.
Defense lawyer Bruce L. Castor Jr., argued for leniency on behalf of McKernan in the form of a county jail sentence and work release, explaining McKernan has no prior criminal record and has, to date, repaid the entire $56,955 to the little league and nearly $1 million to the Reese company.
Testimony revealed McKernan, a former Republican Whitpain Township supervisor, has borrowed the money from friends and family to make restitution payments.
Castor implied the thefts occurred because McKernan was trying to support living beyond his means. Castor revealed McKernan had also been abusing alcohol and has received treatment for the abuse.
While jail time was warranted, the judge explained, a state prison sentence would not permit work release or the opportunity for McKernan to continue repaying his debt. However, a county jail sentence would provide McKernan a chance for work release.
Authorities alleged that while McKernan was handling the books for the Reese company, he electronically transferred money from the Reese company to his personal accounts to pay off his credit card bills. In addition to paying for personal expenses, McKernan used Reese monies to pay other client?s taxes, authorities alleged.
Authorities alleged McKernan even took Reese family members to dinner, supposedly as a show of customer appreciation, and essentially reimbursed himself with Reese funds.
Reese, a utility right-of-way clearing company based in Mercersburg, Franklin County, had been a McKernan client beginning in 1983. However, the company reportedly became dissatisfied after the accounting firm failed to pay Reese?s payroll taxes in a timely manner. An audit of the company?s records was performed and determined McKernan allegedly stole $1,497,693 from Reese.
NORRISTOWN ? A former Blue Bell area accountant who ?lived high on the hog? at the expense of others is headed to jail for stealing more than $1 million from a client and nearly $60,000 from the Lower Gwynedd Little League where he was treasurer.
William L. McKernan III, 45, an employee of McKernan PC, bowed his head in obvious shame in Montgomery County Court on Wednesday as he was sentenced to 11�-to-23-months in the county jail, to be followed by five years? probation, after he pleaded guilty to seven felony counts of theft by deception in connection with incidents that occurred between March 2005 and February 2009.
?This is a series of very significant crimes,? said Judge William R. Carpenter, adding McKernan?s thefts from the Little League and a corporate client while holding a position of trust in the community cannot be excused.
McKernan, a married father of three who was a certified public accountant for the DeKalb Pike accounting firm that his father started 28 years ago, also must complete 100 hours of community service and pay $750,000 in outstanding restitution.
The judge said McKernan, who surrendered his accountant?s license but still works for his father?s business in other capacities, is eligible for the jail?s work release program but only after serving 60 days of his minimum sentence.
?My desire to live a life that was false was greater than my morals,? McKernan, his voice quivering with emotion at times, told the judge before learning his fate. ?I apologize profusely. I was thoughtless in my actions and I will do my best to make it right.?
McKernan, authorities alleged, was the primary accountant assigned to handle accounting duties for K.W. Reese Inc., a longtime client of the McKernan firm that allegedly was swindled by McKernan to the tune of nearly $1.5 million.
After his arrest for the Reese theft, officials of the Lower Gwynedd Little League, where McKernan, of Burgundy Circle, Whitpain, was treasurer since 2006, conducted an audit and determined McKernan systematically stole $56,955 to pay for personal expenses, according to a criminal complaint. The league was formed in 1959 as a means for boys and girls to learn the fundamentals of baseball.
Assistant District Attorney Kate McGill argued for a state prison sentence against McKernan. Prosecutors alleged McKernan lived a ?country-club lifestyle? on somebody else?s dime and used the stolen money to pay for golf trips to Nassau, Bahamas, Myrtle Beach, S.C., and Disney World and spent money at bars, restaurants and even a gentleman?s club.
?This is simply a case of greed. Mr. McKernan was living high on the hog at the expense of so many people. He was stealing right from under their noses. He was going to a gentleman?s club with the money that was supposed to be for children?s uniforms,? McGill argued, referring to funds stolen from the Little League.
Defense lawyer Bruce L. Castor Jr., argued for leniency on behalf of McKernan in the form of a county jail sentence and work release, explaining McKernan has no prior criminal record and has, to date, repaid the entire $56,955 to the little league and nearly $1 million to the Reese company.
Testimony revealed McKernan, a former Republican Whitpain Township supervisor, has borrowed the money from friends and family to make restitution payments.
Castor implied the thefts occurred because McKernan was trying to support living beyond his means. Castor revealed McKernan had also been abusing alcohol and has received treatment for the abuse.
While jail time was warranted, the judge explained, a state prison sentence would not permit work release or the opportunity for McKernan to continue repaying his debt. However, a county jail sentence would provide McKernan a chance for work release.
Authorities alleged that while McKernan was handling the books for the Reese company, he electronically transferred money from the Reese company to his personal accounts to pay off his credit card bills. In addition to paying for personal expenses, McKernan used Reese monies to pay other client?s taxes, authorities alleged.
Authorities alleged McKernan even took Reese family members to dinner, supposedly as a show of customer appreciation, and essentially reimbursed himself with Reese funds.
Reese, a utility right-of-way clearing company based in Mercersburg, Franklin County, had been a McKernan client beginning in 1983. However, the company reportedly became dissatisfied after the accounting firm failed to pay Reese?s payroll taxes in a timely manner. An audit of the company?s records was performed and determined McKernan allegedly stole $1,497,693 from Reese.
Source: http://pottstownmercury.com/articles/2011/06/02/news/doc4de708ba72280137967135.txt
accounting rancho cucamonga accountant rancho cucamonga accounting firms in rancho cucamonga ca rancho cucamonga cpa accounting firms rancho cucamonga
No comments:
Post a Comment