Insurer's Ex-CEO Gets 5 Years For Forgery Fraud

Law360, New York (October 19, 2011, 6:31 PM EDT) -- The former CEO of Wisconsin's Manson Insurance was sentenced Wednesday to five years in prison on one count of conspiracy to commit fraud after he pled guilty to defrauding a bank with phony financial documents.

U.S. District Judge William M. Conley sentenced David R. Scholfield, 84, to 60 months in prison and two years of probation.

Scholfield pled guilty March 11 to prosecutors' allegations that he and his employees forged insurance customers' signatures on financing agreements, a scheme that earned him nearly $4 million dollars....
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