The former president and CEO of Manson Insurance is expected to enter a plea bargain.
Timothy Mathwich has a plea hearing scheduled for next Wednesday in US District Court. He is expected to plead guilty to two charges , conspiracy to commit bank fraud and conspiracy to misappropriate insurance credits.
Earlier this year, he was indicted on 24 felony counts according to an initial news release from the time of those charges.
Two others involved, CEO David Schofield and secretary Susan Brockman have previously reached plea deals.
The three are accused of forging insurance premium financing notes in client’s names, and selling them to River Valley Bank. The scheme was uncovered when the bank purchased Manson Insurance. The bank lost more than $2-million dollars.
Mathwich’s plea hearing is scheduled before judge William Conley next Wednesday at 3:00 in Madison.