Montgomery County, PA

FOR IMMEDIATE RELEASE

NOVEMBER 17, 2009

 

 

 

Arrest of Certified Public Accountant WILLIAM McKERNAN III for Theft, Access Device Fraud, Dealing in Proceeds of Unlawful Activities and related offenses

 

 

   

 

 

District Attorney Risa Vetri Ferman and Chief Mark A. Smith of the Whitpain Township Police announce the arrest of Certified Public Accountant William McKernan III for Theft, Access Device Fraud, Dealing in Proceeds of Unlawful Activities and related offenses.

The arrest is the result of an investigation by the Montgomery County Detective Bureau and the Whitpain Township Police Department into dozens of unauthorized withdrawals the defendant made from a corporate client in the course of his duties as a professional accountant.

  

William McKernan, III, who resides at 135 Burgundy Circle, Blue Bell, PA is an employee of McKernan PC, an accounting firm located at 1133 DeKalb Pike, Blue Bell, PA. McKernan PC was contracted by K.W. Reese, Inc. to handle various professional accounting services. William McKernan III was the primary accountant assigned to handle those services. Beginning in 2005, William McKernan III systematically transferred funds from K.W. Reese accounts to his own personal accounts without permission. The money was used to pay credit card bills and for personal expenses. An analysis of K.W. Reese accounts following the discovery of the theft showed McKernan III took approximately $1,497,693.72. Following the discovery of the thefts, McKernan III admitted to K.W. Reese officials that he had taken company funds.

 

William McKernan III is a member of the Whitpain Township Board of Supervisors, where he holds the position of Treasurer. Montgomery County Detectives and Whitpain Police officers are also conducting an investigation to ensure the integrity of the Township funds.

 

William McKernan III will be arraigned on November 17, 2009 at 11:00 A.M. before District Judge John S. Murray, III, Blue Bell West, Skippack Pike, Blue Bell, PA.

 

Approved for release:

 

Risa Vetri Ferman