Created on Thursday, 23 September 2010 10:03
Former Certified Public Accountant William McKernan III of Blue Bell has admitted stealing nearly $1.5 million from a client over a four-year period, and also stealing about $60,000 from the Lower Gwynedd Little League, where he was treasurer. He pleaded guilty to theft charges Wednesday in Montgomery County Court. After he was charged with the larger theft in November, the league had an audit conducted and found the money missing. Prosecutors say he systematically transferred money from KW Reese Corporation accounts to his own accounts without permission to pay credit card bills and other personal expenses. After the thefts were discovered, he admitted to KW Reese officials that he had taken company funds. Defense lawyer Bruce Castor said he was living beyond his means and drinking heavily at the time of the thefts, he is paying restitution to the company, and he has already paid full restitution to the Little League. McKernan was also Treasurer of the Whitpain Township Supervisors, and he resigned from that position at about the time of his arrest. There is no evidence that he stole any taxpayers’ money.