Former Wenatchee LDS Stake President Charged With Wire Fraud
Patrick Alan Bucknum, a former healthcare executive and high-ranking local leader for The Church of Jesus Christ of Latter-day Saints, has been federally charged with wire fraud following allegations that he embezzled more than $30 million from his employer.
In April 2019, Bucknum was called to serve as the president of the Wenatchee Washington Stake of the LDS church, a prominent lay position overseeing multiple local congregations.
At the time of his calling, Bucknum was serving as the CEO of Community Clinic Network, a Wenatchee-based conglomerate formed to manage healthcare payment contracts for clinics across Washington.
According to federal charging documents filed in the Eastern District of Washington on May 7, 2026, Bucknum was simultaneously exploiting his executive roles—eventually serving as CEO, CFO, and COO—to siphon millions of dollars from CCN’s accounts.
Prosecutors allege that between 2017 and 2023, Bucknum used his relatively unfettered access to the company’s finances to transfer approximately $30.39 million into his personal E*TRADE account.
Despite having no prior experience trading stocks, options, or exchange-traded funds, Bucknum purportedly engaged in highly leveraged, bearish trading strategies influenced by social media.
While he managed to return roughly $7.3 million to CCN over the years, his trading losses quickly mounted, resulting in an alleged net trading loss to the healthcare network of approximately $23 million.
Factoring in funds allegedly used for personal purchases, the total loss to the network exceeded $24.3 million.
To conceal the missing funds, Bucknum allegedly manipulated CCN’s financial records, voiding checks in the accounting system and electronically altering bank statements.
Federal authorities claim he intentionally moved money between CCN’s primary checking account and its secondary savings account, knowing the board of directors was less likely to scrutinize the latter.
Beyond day trading, court records indicate Bucknum used the embezzled funds to finance a lavish lifestyle.
Purchases allegedly traceable to CCN funds include a 2021 Tesla Model 3 for nearly $78,000, a 2024 Cobalt boat and trailer for $33,000, and a 2024 Chevrolet Silverado EV for more than $100,000.
The federal Information alleges Bucknum attempted to hide the truck purchase by labeling the check entry as “CDW Server Upgrades” in the company’s accounting software.
Additionally, he is accused of using nearly $1.2 million of CCN money to purchase precious metals, later trading the proceeds for hundreds of American Gold Eagle, Platinum, and Silver Eagle coins.
The scheme reportedly began to unravel as Bucknum viewed his trading losses as “insurmountable.”
Court documents state that by 2019, Bucknum met with an attorney regarding the situation but ultimately decided not to come forward.
In March 2023, he allegedly made a final unsuccessful attempt to recover the lost funds by transferring an additional $5 million into his E*TRADE account.
On October 7, 2024, Bucknum voluntarily resigned from CCN through his legal counsel, reportedly admitting in his resignation that he had embezzled and lost approximately $20 million of the network’s money.
Bucknum now faces one felony count of wire fraud alongside federal forfeiture allegations.
If convicted, he faces a maximum penalty of up to 20 years in federal prison, three years of supervised release, and a fine of up to $250,000 or twice the gross gain or loss—whichever is greater. Federal authorities are also seeking the forfeiture of the vehicles, the boat, the precious metal coins, and any remaining funds in his bank accounts.