Wenatchee Health Care CEO Pleads Guilty to Embezzling $24 Million From His Own Company to Fund Stock Trades and a $1.2 Million Coin Purchase

Prosecutors say the scheme began in April 2017, when Bucknum began transferring money from CCN’s business bank accounts into investments in stocks, options, and exchange-traded funds. According to court documents, he initially intended to keep any profits for himself while returning the principal to the company, a rationalisation prosecutors say was influenced by social media content promoting aggressive trading strategies. The trades did not go as planned. Bucknum lost most of what he invested, then embezzled additional funds in an attempt to trade his way back to even, a cycle that continued for years.

Between 2017 and 2023, prosecutors say Bucknum embezzled approximately $30 million from CCN and returned roughly $7 million to the company during the same period. The net loss to CCN is calculated at approximately $24.4 million.

Beyond the failed investments, court documents detail a series of personal purchases made with company funds. Bucknum spent $100,000 on a pickup truck, $77,000 on a Tesla, and $33,000 on a boat. In August 2024, he transferred $1,199,000 to purchase precious metal coins in gold, silver, and platinum.

As part of his plea agreement, Bucknum agreed to forfeit all four vehicles and the entire collection of precious metal coins to the United States government. He is scheduled to be sentenced on 23 September 2026. The case was investigated by the FBI.