Dubuque man sentenced for embezzling from private company - KWWL - Eastern Iowa Breaking News, Weather, Closings

Dubuque man sentenced for embezzling from private company

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Michael Schute, 51, will serve 33 months in prison for embezzling more than $360,000 dollars from a private company where he worked as the Controller. He was sentenced on Monday after pleading guilty in early February to wire fraud and filing false tax returns.

Schute admitted that he took that money over the course of 5 years, between 2008 and April 2013, when he was fired from the company. He wrote checks from the company bank account to pay his credit cards and other bills, and then he falsified records to make it look like debts were being paid. Schute also admitted that he didn't include that money on his tax returns during that time, so he owes more than $86,000 in taxes on illegal income.

On top of his sentence, he's required to pay back $306,848.56 in restitution.

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