October 22, 2019
A West Virginia pharmacist was arrested on a 26-count federal indictment for her role in a multi-million dollar Ponzi scheme that she ran with her late husband. Natalie Cochran and her husband Michael Cochran owned and operated two companies, Technology Management Solutions LLC and Tactical Solutions Group LLC. Both of these companies were registered as federal government contractors. Investors were led to believe that their money was being invested in contracts awarded to these companies, and they would receive a portion of the profits when the contract was completed.
These two companies had never actually received any federal contracts, and the state contracts that they had obtained were later voided for lack of performance. They had obtained funding from 11 investors that raised more than $2.5 million. As with most Ponzi schemes, the new investor funds were being used to pay out those who had been with them longer. Most of the funds, an estimated $1 million, were used to fund the Cochrans’ lavish lifestyle that included eating at expensive restaurants, taking vacations, and the purchase of personal properties and vehicles.
Additionally, the Cochrans also misused funds from the Shady Spring Youth Baseball League in West Virginia. Authorities believe that there were a series of strange expenditures that had taken place while Cochran had access to the account.
Authorities are still looking into the cause of her husband’s death while she is being investigated for her role in the Ponzi scheme. She could face up to 30 if convicted for the impending charges.
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