For investors seeking money-making opportunities that were low risk but with high financial returns, pharmacist Natalie Cochran appeared to have all the answers. She ran two technology solutions businesses in Beckley, West Virginia, that she revealed had lucrative multi-million dollar contracts with the government. With such a surefire stream of income, Cochran easily managed to persuade businesspeople, locals and even friends and family to hand over their money.
Starting in 2017, she attracted more than $2 million of investment over two years, with the promise that everyone would get big payouts, but the reality was a very different story. It really was all too good to be true.
Cochran was a mum-of-two and married to Michael, 38, who was also involved in the businesses. They enjoyed a privileged life of holidays and luxury homes and Michael believed, like the investors, that more money was coming and it was only going to get better. But his wife was lying to everyone.
Cochran was running a Ponzi scheme, which is a type of investment fraud that pays investors with funds collected from new investors. Each time, she was promising to invest the money but was simply convincing more people to buy into her scheme, to pay earlier investors token amounts to keep them happy.
Cochran was spending the money to keep up with her lifestyle. Among other things, she bought two properties, jewellery and even a 1965 Shelby Cobra classic car that cost $37,500.
By late 2018, Cochran had original investors that needed paying and was struggling to get new ones. She had taken out high-interest loans to get the capital she needed to back up her claims that the businesses were thriving. For some unknown reason, she told her husband of 19 years that $245 million would be coming into their accounts any day now.
Investors believed the same and were expecting to get their share. But over the months, Cochran stalled and dodged questions, with excuses such as audits and delays due to the complexity of banking with such a large amount of capital.
The truth was, the money didn't exist.
AN ACT OF PURE EVIL
On 6 February, Michael and his wife were due to fly to Lynchburg, Virginia, to visit a branch of the Bank of America. They had a meeting to set up an account that was suitable for such a large amount of cash, but on the morning of the private flight, Cochran sent a text to the aviation company and cancelled it, saying her husband was ill. Michael had also messaged friends that morning to say he felt unwell and thought he might have caught what his wife had.
Cochran, who was feeling better, sent a few people messages to say Michael was dizzy and throwing up. Around noon, she sent a few people a picture of him passed out on the kitchen floor. Horrified, they insisted she get him to hospital, but Cochran said he didn't like hospitals and that he would be OK if he "slept it off".
Eventually, a friend of Michael's went to the house and insisted he was taken to hospital. That night, doctors discovered he was extremely unwell, with unexplained dangerously low sugar levels that had damaged his brain and his organs. He was intubated but, tragically, Michael passed away five days later.
Everyone was shocked at his death. He was a fit and healthy man, who worked out and rode motorcycles. At the time, Cochran told people and medical staff that Michael was addicted to steroids and took above the recommended doses of unregulated supplements. No one had any knowledge of that. Michael was buried, with many unanswered questions, while his widow was left with the fallout of her fraudulent acts.
Investigators uncovered what Cochran had been doing and she was charged with federal wire fraud and money launder...
Starting in 2017, she attracted more than $2 million of investment over two years, with the promise that everyone would get big payouts, but the reality was a very different story. It really was all too good to be true.
Cochran was a mum-of-two and married to Michael, 38, who was also involved in the businesses. They enjoyed a privileged life of holidays and luxury homes and Michael believed, like the investors, that more money was coming and it was only going to get better. But his wife was lying to everyone.
Cochran was running a Ponzi scheme, which is a type of investment fraud that pays investors with funds collected from new investors. Each time, she was promising to invest the money but was simply convincing more people to buy into her scheme, to pay earlier investors token amounts to keep them happy.
Cochran was spending the money to keep up with her lifestyle. Among other things, she bought two properties, jewellery and even a 1965 Shelby Cobra classic car that cost $37,500.
By late 2018, Cochran had original investors that needed paying and was struggling to get new ones. She had taken out high-interest loans to get the capital she needed to back up her claims that the businesses were thriving. For some unknown reason, she told her husband of 19 years that $245 million would be coming into their accounts any day now.
Investors believed the same and were expecting to get their share. But over the months, Cochran stalled and dodged questions, with excuses such as audits and delays due to the complexity of banking with such a large amount of capital.
The truth was, the money didn't exist.
AN ACT OF PURE EVIL
On 6 February, Michael and his wife were due to fly to Lynchburg, Virginia, to visit a branch of the Bank of America. They had a meeting to set up an account that was suitable for such a large amount of cash, but on the morning of the private flight, Cochran sent a text to the aviation company and cancelled it, saying her husband was ill. Michael had also messaged friends that morning to say he felt unwell and thought he might have caught what his wife had.
Cochran, who was feeling better, sent a few people messages to say Michael was dizzy and throwing up. Around noon, she sent a few people a picture of him passed out on the kitchen floor. Horrified, they insisted she get him to hospital, but Cochran said he didn't like hospitals and that he would be OK if he "slept it off".
Eventually, a friend of Michael's went to the house and insisted he was taken to hospital. That night, doctors discovered he was extremely unwell, with unexplained dangerously low sugar levels that had damaged his brain and his organs. He was intubated but, tragically, Michael passed away five days later.
Everyone was shocked at his death. He was a fit and healthy man, who worked out and rode motorcycles. At the time, Cochran told people and medical staff that Michael was addicted to steroids and took above the recommended doses of unregulated supplements. No one had any knowledge of that. Michael was buried, with many unanswered questions, while his widow was left with the fallout of her fraudulent acts.
Investigators uncovered what Cochran had been doing and she was charged with federal wire fraud and money launder...
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New UK (Digital) - 1 Issue, March 03, 2025