GOSHEN, Ind. (AP) — A former executive of a recreational vehicle company in northern Indiana has been sentenced to 41 years in federal prison for falsifying company financial reports.
Mark Schwartzhoff pleaded guilty last month to wire fraud charges for his actions when he was vice president of finance at Goshen-based Dutchmen Manufacturing. The Elkhart Truth reports (http://bit.ly/sTIwGf ) court documents say Schwartzhoff admitted that from 2003 through 2007 he prepared false reports understating Dutchmen's cost of goods sold and overstating earnings.
Court records say his fraud caused parent company Thor Industries of Jackson Center, Ohio, to overstate earnings by $25 million and to pay about $2 million in unwarranted bonuses.
The judge also ordered Schwartzhoff to pay nearly $2 million in restitution to Thor.