Guilty Plea Hearing Set For Accountant Accused Of Theft
Certified Public Accountant William McKernan III Of Blue Bell is apparently about to admit 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.
A guilty plea hearing has been scheduled for September. After he was charged with the larger theft in November, the league had an audit conducted and found the money missing. He is charged with theft and related offenses. Police and 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 K-W Reese officials that he had taken company funds. Defense lawyer Bruce Castor says 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.