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Former Manson president indicted in fraud case

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FBI agents search the Manson Insurance offices in June 2010.
FBI agents search the Manson Insurance offices in June 2010.

MADISON, Wis. (WSAU) – A federal grand jury has indicted the former president of Manson Insurance for his part in a fraud scheme that stole millions of dollars.

Tim Mathwich has been charged with 24 counts in an indictment stemming from the case. He's the last of three people involved in the scheme which sought to sell forged bank documents and then pocket the money. Two other accomplices are already sentenced to prison time. Former CEO David Schofield is serving a 5 year sentence, while former treasurer Susan Brockman has completed a 6 month sentence for her role in the case.

FBI agents raided the business back in 2010 after new owners River Valley bank uncovered the fraud. Computer records and other documents were seized as part of an ongoing investigation. The criminal investigation dates back before River Valley Bank purchased Manson’s customer list in April, 2009. More than 800 individuals and companies were scammed, including Midwest Communications, the parent company of these radio stations.

The new owners are not accused of any wrongdoing.

If convicted, Mathwich faces a maximum penalty of 20 years in federal prison on each count charged in the indictment.

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