Insurance Fraud Auction
WAUSAU, Wis. (AP) – Fur coats, Rolex watches and diamonds are among hundreds of items once owned by a pair of Wausau insurance executives and auctioned off to pay for their multi-million dollar fraud scheme. Federal agents seized the property from the homes and storage units belonging to Timothy Mathwich and David Schofield. The men and Susan Brockman, of Hayward, were executives at Manson Insurance and were accused of forging millions of dollars in insurance premium financing notes and selling them to River Valley Bank in 2008. A federal judge has ordered the three to pay more than $6 million in restitution. A diamond ring netted $40,000 at this week’s auction at a hotel in Wittenberg. Auctioneer Jerry Chuilli tells Daily Herald Media (http://wdhne.ws/14qpMNK ) the auction raised more than $100,000, but he declined to give a specific total.
Information from: Wausau Daily Herald, http://www.wausaudailyherald.com
Comments are closed.