Waseca Travel Agent Sent to Federal Prison For Fraud
Minneapolis, MN (KROC-AM News) - A Waseca man has been sentenced to two years in federal prison for defrauding fellow travel agents.
46-year-old Matthew Schumacher earlier entered a guilty plea to one count of wire fraud for misappropriating commission payments meant for other travel agents. According to federal court documents, Schumacher was the owner of Travel Troops LLC and was accused of keeping commission payments sent to his business by travel suppliers for distribution to the independent travel agents who had actually booked the travel for their customers.
Federal prosecutors alleged that he defrauded at least three dozen travel agents throughout the country out of at least $160,000 that was deposited in his personal account. It was alleged that he use the funds for personal travel expenses, cash withdrawals, retail purchases, car payments, credit card bills, entertainment tickets, and loan payments.
The original federal criminal complaint listed nearly $500,000 in misappropriated commission payments.