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Former Dutchmen VP Receives Prison Sentence

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November 28, 2011 by   Leave a Comment

A former vice president for Dutchmen Manufacturing Inc. was sentenced to more than three years in federal prison after a conviction on a charge of wire fraud, the Goshen News reported.

According to the U.S. Attorney’s office in South Bend, Ind., Mark Schwartzhoff, 43, Odessa, was sentenced by Judge Jon DeGuilio to 41 months in prison and ordered to pay $1,969,035 in restitution after he entered a guilty plea to wire fraud.

He admitted in a plea agreement that in 2006 he e-mailed fraudulent financial statements from his office in Indiana to supervisors at Dutchmen’s parent company Thor Industries Inc., based in Jackson Center, Ohio. As vice president of finance for Goshen-based Dutchmen, he received a salary and bonus based on the financial performance of the company.

Prosecutors said he was responsible for managing the company’s accounting department and preparing quarterly financial reports. From 2003 through 2007 he prepared false financial statements that understated Dutchmen’s cost of goods sold and overstated its earnings and e-mailed these statements to his supervisors in Ohio. Prosecutors said he made false journal entries in accounts and altered related documentation to conceal his fraud.

As a result of these fraudulent financial statements, he received about $299,805 in bonus payments to which he was not entitled, the U.S. attorney said.

The case was investigated by the Federal Bureau of Investigation (FBI) and prosecuted by assistant U.S. Attorney Jesse Barrett.

 

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