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A Radcliff man and former PNC Investments employee was sentenced Tuesday afternoon to 41 months in prison on charges of bank fraud.
William T. Hernandez, 41, pleaded guilty in U.S. District Court in Louisville to two counts of bank fraud June 21 for executing a scheme to defraud PNC and its customers.
In addition to prison time, the court also ordered Hernandez to pay $453,819.21 in restitution to the bank, according to a news release.
“According to the plea agreement, Hernandez will be responsible for payment of restitution to PNC Bank that has previous restored the victims’ money,” the release said.
Following the 41-month confinement, he will have three years of supervised release.
According to a February indictment, between Oct. 24, 2006, and June 10, 2010, Hernandez withdrew money from a PNC Investment account, deposited it into a PNC Money Market Savings Account, then issued cashiers’ checks for his personal gain. His actions caused one client a loss of more than $250,000.
Between July 1, 2010, and Oct. 20, 2010, he executed a similar exchange, causing a second customer a loss of more than $60,000, according to the indictment.