Natalie Cochran reports to prison
May 1—A Daniels mother and former pharmacist who pleaded guilty in federal court in September to operating a $2.7 million Ponzi scheme began serving a court-ordered prison sentence on Saturday.
Natalie Cochran, 39, reported to Federal Correctional Institute-Hazelton in Bruceton Mills on Saturday to begin serving a 135-month prison sentence, which is more than 11 years.
FCI-Hazelton is a medium security prison for women, around three hours north of Beckley. The facility provides many opportunities for visitors, according to the website.
The mother of two pleaded guilty to one count each of wire fraud and money laundering and agreed to serve between 37 and 135 months in prison and to pay restitution to her victims of about $2.6 million.
Cochran was ordered in March by U.S. District Court of Southern West Virginia Judge Frank Volk to report to prison to begin serving her sentence by May 1 or when the Bureau of Prisons contacts her, whichever date fell first.
She will pay back $500 per month when she is released from prison, as compensation to victims.
According to court documents, Cochran had taken more than $2 million in investments from family and other local residents in two companies she and her late husband, Michael Cochran, owned. At Natalie's sentencing hearing, victims testified that Natalie had told them that her company was providing weapons to the U.S. Department of Defense. Prosecutors said there were no government contracts and that the Cochrans spent investors' funds on lavish living.
Michael Cochran became unexpectedly ill in the couple's home and died in February 2019. His body was exhumed several months after his death, under a Raleigh County Circuit Court order.
Raleigh Prosecuting Attorney Ben Hatfield said in February that an investigation into Michael Cochran's death is still open.
