St. Louis Park man pleads guilty to stealing more than $346,000 from his employer
A St. Louis Park man pleaded guilty to embezzling more than $346,000 from his employer, Hennepin County Attorney Mike Freeman announced Tuesday.
Matthew Eric Schultz, 40, pleaded guilty Monday to four counts of theft by swindle for creating dummy freight transportation companies in April of 2015 and then taking existing invoice claims from real companies and adding his dummy carriers to the claims.
“Once again, we have an employee whose greed convinced him that he was smart enough to steal more money from his company,” Freeman said. “But businesses are putting better systems in place to catch embezzlers and we are aggressively prosecuting these cases and making sure the employee serves significant time in prison.”
According to the criminal complaint, on April 25, 2016, senior counsel for C.H. Robinson, Schultz’s employer, reported a theft by Schultz. The company provides third party logistics by lining up trucking companies, railroads and air freight companies to move a business’ products around the U.S. and the world. An internal audit by the Eden Prairie company showed that between April 2015 and January 2016, 42 checks were issued to Schultz’s dummy companies, with the money ultimately winding up in his personal account.
Officers who reviewed Schultz’s bank account discovered that 38 of the checks were deposited into Schultz’s account. Three large withdrawals were consistent with the following purchases made by Schultz:
- July 6, 2015 - $40, 260.21 - 2015 Ford F150,
- September 11, 2015 - $148,473.00 - St. Louis Park townhome
- March 4, 2016 - $40,630.00 - Land purchase in Aitkin County
Schultz will be sentenced on April 21 and is expected to receive 39 months in prison and pay restitution in the amount of $346,768.66.