BECKLEY, W.Va (WOAY) – On Thursday, U.S. Attorney for the Southern District of West Virginia Mike Stuart held a press conference to release the details of former Raleigh County pharmacist Natalie Cochran’s arrest and indictment. Stuart said she is facing up to 30 years in prison.
“Yesterday, a federal grand jury returned an indictment that was unsealed today for Natalie Cochran, 38, of Beckley with 26 counts of wire fraud, bank fraud, money laundering, aggravated identity theft and bankruptcy fraud,” Stuart said. “Ms. Cochran was arrested this morning at approximately 6:30 or 6:45 a.m. by federal agents at her home without incident.
Natalie Cochran and her late husband, Michael, were both owners and operators of Technology Management Solutions known as TMS which was advertised as an IT company. They also owned and operated Tactical Solutions Group or TSG which was advertised as a wholesale merchant. While Stuart refused to comment on Michael Cochran’s involvement he said Cochran falsely advertised herself and her companies as government contractors.
“Cochran has pretended to be an experienced government contractor since 2017,” Stuart said. “She advertised TMS and TSG as experienced in the contracting business. TSG’s website even boasted that it was a leading supplier to the Department of Defense. That’s not true. Investigators learned however that TSG was never awarded a single federal or state contract and that those two state contracts were cancelled.”
And according to Stuart, this alleged scheme impacted several investors.
“We know that there are at least 11 investors that we claim provided money to this. At least one bank provided funds to this scheme, and so I think that will come out during the course of this proceeding.”
The indictment states that Cochran illegally obtained over $2.5 million in the alleged scheme. Stuart said Cochran spent over $1 million of that money “lavishly.”
“She also used the investor money for extravagant purchases including jewelry, a 1965 Shelby Cobra and multiple properties.”
Stuart said the U.S. Secret Service was instrumental in the arrest and the investigation along with West Virginia State Police. Cochran remains in U.S. Marshal custody as she awaits a continuance of her detention hearing on Monday at 10 a.m.