WAUSAU, WI (WTAQ) - A former president of Manson Insurance in Wausau has been sentenced to five years in a federal prison for a pair of fraud convictions.
62-year-old Timothy Mathwich must also spend three years under federal supervision once he gets out.
He pleaded guilty in November to two fraud charges – and 22 others were dropped in a plea deal.
Mathwich was indicted for defrauding Manson customers of $5.6 million, swindling a bank out of $2 million, plus a mail fraud scheme. Another former Manson CEO and a company treasurer were also sent to prison for their roles in the fraud case – and they were ordered to pay over $5 million in restitution to customers who were victimized.
The Mathwich plea deal also included restitution, which is still pending.