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A Radcliff man has been indicted in U.S. District Court and charged with embezzling more than $300,000 over a four-year period from elderly customers.
William T. Hernandez, a former employee of PNC Investments, was indicted Friday by a Louisville grand jury on two counts of bank fraud for “executing a scheme and artifice” to defraud PNC Bank and its customers.
According to court records, “Between Oct. 24, 2006, and June 10, 2010, Hernandez, “while employed by PNC Investments, knowingly and with intent to defraud, caused monies to be withdrawn from an account with PNC Investments, deposited the money into a PNC Money Market Savings Account, then issued cashiers’ checks for his personal benefit and gain, causing a loss of over $250,000. Between July 1, 2010, and Oct. 20, 2010, Hernandez executed a similar scheme while an employee of PNC Investments, by withdrawing money from a PNC Investments account, depositing the funds into a PNC Bank account and issuing cashiers checks for his personal benefit and gain, causing a loss of over $60,000.”
If convicted, Hernandez could face a maximum of 40 years in prison, a $500,000 fine and three years of probation.
The case is being prosecuted by Assistant U.S. Attorney Jim Lesousky and was investigated by the FBI.
A grand jury indictment is only an accusation. Those charged are presumed innocent until and unless proven guilty.