HARRISBURG, Penn. — A former federal credit union board member has been indicted on federal charges alleging he defrauded an elderly woman of more than $1 million and used her retirement savings to buy commercial property, a pickup truck and other equipment, according to the U.S. Attorney’s Office for the Middle District of Pennsylvania.
William D. Brenner, 62, was indicted Aug. 5 by a federal grand jury on charges of wire fraud and engaging in unlawful monetary transactions involving criminally derived property, U.S. Attorney Brian D. Miller said. The U.S. Attorney did not identify the credit union at which Brenner was a board member.
Federal prosecutors allege Brenner persuaded the woman, who was born in 1936, and her daughter, who held power of attorney, that he could provide a better investment opportunity than the one the woman already had.
According to the indictment, Brenner represented that the money would be placed in an investment account that he would personally manage and that would pay fixed interest over a two-year period.
Commercial Property Allegedly Purchased
Instead, prosecutors allege, Brenner used the money to purchase commercial property in Caneyville, Kentucky, in his own name without the woman’s authorization.
The U.S. Attorney’s Office said Brenner also allegedly forged an agreement purporting to show that the woman and her daughter had authorized him to use the money to purchase the property. Prosecutors allege Brenner created the document using authentic signatures he had obtained from the two women on a different document.
Credit Union Account Alleged
According to prosecutors, Brenner gained control of the woman’s retirement savings by persuading her and her daughter to transfer the money into an account at a local federal credit union where Brenner was a board member.
Brenner also maintained accounts at the credit union in the names of other businesses, the U.S. Attorney’s Office said.
The account holding the woman’s funds was established in August 2021. Prosecutors allege that once the money was transferred, Brenner began using it for his own benefit and that of family members.
By September 2021, Brenner had allegedly depleted almost all the money in the account.
Other Alleged Purchases
The indictment charges Brenner with several counts involving monetary transactions in criminally derived property. Prosecutors allege he used the woman’s money to purchase:
- Commercial property in Caneyville, Kentucky.
- A new Dodge Ram pickup truck.
- A skid steer.
- Other tools and motorized equipment.
The indictment also seeks forfeiture of assets allegedly connected to the offenses, including the Kentucky commercial property.
The U.S. Secret Service is investigating the case. Assistant U.S. Attorney Ravi Romel Sharma is prosecuting it.
Potential Penalty
Wire fraud carries a maximum penalty of 20 years in prison, followed by supervised release and a fine. Engaging in monetary transactions involving criminally derived property carries a maximum penalty of 10 years in prison, supervised release and a fine.
The Justice Department in April announced the creation of its National Fraud Enforcement Division, which is focused on investigating and prosecuting fraud. The department said the effort also supports the Trump administration’s Task Force to Eliminate Fraud, chaired by Vice President JD Vance.
An indictment contains allegations, and Brenner is presumed innocent unless proven guilty beyond a reasonable doubt.
