Wis. Insurance Co. CEO To Admit To Fraud

Law360, New York (March 11, 2011, 6:17 PM EST) -- The former CEO of Wisconsin's Manson Insurance will plead guilty to defrauding a bank with phony financial documents, according to a plea bargain filed Friday.

David R. Scholfield will plead guilty to one count of conspiracy to commit fraud, his attorney said in an agreement with prosecutors filed in the U.S. District Court for the Western District of Wisconsin.

Prosecutors claim Scholfield and his employees forged insurance customers' signatures on financing agreements, a scheme that earned him nearly $4 million dollars.

Scholfield's Manson Insurance, whose legal...
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