Scamfluencers: Natalie Cochran – The Pharmacist Femme Fatale, Part 2 | Summary
Podcast: Wondery’s Scamfluencers
Episode: Natalie Cochran: The Pharmacist Femme Fatale Part 2 | 184
Hosts: Sarah Hagi and Scaachi Koul
Air Date: October 27, 2025
Episode Overview
This episode concludes the shocking saga of Natalie Cochran, a West Virginia pharmacist who ran an audacious Ponzi scheme and ultimately murdered her husband, Michael Cochran. The hosts, Sarah and Scaachi, track how Natalie’s manipulations unraveled—devastating her victims, alienating her own family, and captivating the media as her true crimes came to light. The episode follows the investigation’s progress, the pain of those betrayed, the courtroom drama, and the high-stakes aftermath.
Key Discussion Points & Insights
Natalie’s Deceptions Continue After Michael’s Death
- Callous Behavior Post-Tragedy: Merely days after Michael's funeral, Natalie asks Michael’s grieving mother, Donna, to invest more money in her “government contracting” company, despite Donna and her husband having already sunk $250,000 into the scam.
“I can’t fathom being a mom and my son is dead, he’s barely cold and my daughter-in-law is focused on the business and money and returns.” (Sachi, 03:07) - Embezzling from the Youth: Natalie, as treasurer for a youth sports league, steals from league funds and bounces donations, even as she presents herself as a grieving widow. Funds intended for baseball uniforms and charity events vanish, with Natalie pocketing significant sums.
(See 06:36–07:38)
The Investigation Launches
- Catalyst for Action: Investigators’ first major lead comes from a legitimate arms dealer, owed money by Natalie’s company.
“I think you should be rooting for justice. Personally...” (Sarah, 09:18) - Discrepancies Raise Red Flags: Lt. Tim Bledsoe and his partner Bob start probing, using an inquiry into Michael’s suspicious death as their cover. Initially, police do not suspect murder but are quickly alarmed by mounting inconsistencies in Natalie’s accounts.
(09:49–12:19)
Mounting Evidence of Fraud and Malice
- Text Messages and Lies: Natalie’s changing stories, fabricated documents, and the revelation that Michael was unaware of the scam point to deeper deceit—and to Michael’s death not being the accident Natalie claims.
(12:19–13:40) - Chilling Quotes from Investigators:
“Her reply was, ‘just go ahead and order it. It doesn’t matter at this point anyway.’ ... That is somebody who’s already made a decision.” (Lt. Tim Bledsoe quoting Natalie, 13:40) - Bank Loan Scam: Natalie persuades a local banker with fake documents and an emotional display to approve a $100,000 loan, using forged endorsements and exaggerated claims of business success.
“Weaponizing grief is top 10 evil things someone can do. Weaponizing fake grief, I should say.” (Sarah, 15:55)
The Scholarship Scam: Emotional Cruelty
- False Hope for Students: Natalie awards fake scholarships to eight students—including relatives and children of investors—telling parents to cancel other funding, knowing there is no real money.
“This is, like, basically bar for bar Scott’s Tots from The Office. But it’s also so demonstrably evil...” (Sachi, 18:23)
The Evidence Tightens: Insulin as a Murder Weapon
- Insulin Discovery: During a search of Natalie’s home, Tim finds insulin in the fridge—though no one in the household has diabetes. “Why was Natalie so concerned with the bottle of insulin?” (Sarah, 22:27)
- Friends reveal Natalie requested insulin under the guise of cancer treatment, which may have then been used to kill Michael.
“What keeps Gavin alive, she used to kill.” (Chris, 28:21)
Community Fallout & Legal Maneuvering
- Wider Impact: Victims include youth leagues, friends, Michael’s mother, and scholarship recipients.
- Bankruptcy Fails to Save Natalie: Natalie files for bankruptcy to shield herself, but omits investors and lies about her assets/income. (29:25–31:49)
- Media Scrutiny: Award-winning local reporter Jessica Farish details oddities in Natalie’s public persona and the blow to the tight-knit community.
The Arrest, Conviction, and Murder Trial
- Natalie Arrested: Charged on 26 counts including wire and bank fraud.
“She looks like she would like to speak to the manager.” (Sachi, on Natalie’s arrest, 35:20) - Victims Speak Out:
“In 20-some years of doing this, I’ve seen every type of criminal crook, liar, financially manipulative package, and they all pale in comparison to what Natalie Cochran did.” (Jeff, banker, 36:04) - Sentencing: Natalie receives 11 years for fraud; later indicted and tried for Michael’s murder.
- Trial Drama:
- The defense argues Michael’s death was due to drugs/steroids, painting him as controlling and abusive.
- Natalie’s children testify in her defense.
- Natalie doesn’t testify herself—a rare moment of silence.
- The jury is unconvinced, returning a guilty verdict in less than two hours.
Final Justice and Emotional Fallout
- Donna’s Victim Impact Statement:
“This evil, narcissistic sociopath intentionally and knowingly pre-planned and committed first-degree premeditated murder, stealing the life of our son... We ask that you please, please, no mercy. She never gave Michael any mercy.” (Donna, 47:36) - No Mercy: Natalie becomes the first woman in West Virginia since 1991 to be denied mercy in a murder conviction; she’s sentenced to life without parole. (48:20)
Memorable Quotes & Moments
- On Natalie’s manipulation:
“She must be the easiest person to misdirect or, like, pickpocket or something. Can you imagine playing Clue with this woman?” (Sachi & Sarah, 22:35) - On the psychological toll:
“Her whole thing was evil from the get... She started from a really weird, nefarious place. Yeah, evil is the word.” (Sachi, 51:33) - On community impact:
“There are so many people... who just, like, thank God I was broke... the money is extremely gone. Bigly gone.” (Sarah & Sachi, 52:07) - Final reflection:
“All we can do is hope that our wives or husbands don’t scam us and, or murder us. And that is why I am divorced. All roads lead back to divorce.” (Sachi, 52:48)
Notable Segment Timestamps
- Natalie asks Donna for more money right after Michael’s death: 02:47–03:07
- Police investigation begins (Lt. Tim Bledsoe): 08:31–09:49
- Text message revelation implying premeditation: 13:40
- Fake scholarships awarded: 17:25–18:45
- Insulin discovered as evidence: 21:19–22:27
- Chris’s realization about insulin: 27:45–28:21
- Natalie’s arrest: 35:20
- Banker’s sentencing statement: 36:04
- Donna’s statement at sentencing: 47:36
- Verdict/no mercy: 48:20
Tone & Style
The hosts’ style is irreverent, conversational, and darkly funny, yet empathetic to victims. They punctuate the outrageousness of Natalie’s lies and cruelty with incredulity and sharp banter, but show deep respect for the grief and resilience of those harmed.
Conclusion
This episode exposes the depth of Natalie Cochran’s manipulations, painting her as a uniquely callous and ineffective scammer whose crimes shatter a community and her own family. Despite her attempts to twist public perception and evade accountability, persistent investigation, community outrage, and the courage of victims like Donna ensure that Natalie is brought to justice—not only for financial devastation, but for the most personal betrayal of all.