Charges: Employee Swindled Over $110K From Insurance Company
MINNEAPOLIS (WCCO) – A Shakopee man is facing charges after allegedly stealing thousands from his former company through forged checks.
Michael Bradley Swartz, 45, is facing two counts of theft by swindle over $35,000 and one count of theft by swindle over $5,000.
According to the criminal complaint, in July 2016 an agent with the Minnesota Commerce Fraud Bureau began investigating a report of theft and insurance fraud by an employee at an Apple Valley insurance company.
An October 2015 audit of the company's checks found there were five that had been issued that had no claim file or report associated with them.
Of the checks, three had been issued to a car dealer for $41,712.63, $35,000 and $12,012.96 respectively, one to a car rental company for $805 and one to a trailer dealer for $19,660.54.
Each of the transactions listed the name of Swartz.
The complaint states that the in order for an employee to issue a check on behalf of the company two signatures are requires, one from the insurance adjuster and one from the general manager.
The agent spoke with the general manger who said the signature on the check was forged. The general manager also said Swartx did not have permission to use the business account for personal use.
According to the criminal complaint, the agent visited Swartz at his residence. They indicated Swartz did not need to speak to them and was not under arrest, however Swartz admitted to forging the checks.
Swartz told agents he had been angry with his employer and was hoping to cause financial hardship. He said he knew what he had done was wrong.
The complaint states, to forge the checks Swartz would use the claim number of a prior policy that was closed.
There were also three additional checks found during the investigation Swartz made to his personal credit card account for $3,471.86.
The total amount forged overall was $112,783.60
If found guilty, Swartz could face up to 50 years in prison, a $120,000 fine or both.