- Associated Press - Wednesday, May 13, 2015

CEDAR RAPIDS, Iowa (AP) - A 51-year-old man has been sentenced to nearly three years in federal prison for embezzling over $365,000 from a private business in Dubuque.

The U.S. Attorney’s Office for the Northern District of Iowa says 51-year-old Michael Schute, of Dubuque, must serve a 33-month prison term and pay $306,848 in restitution to the company and its insurance provider. He already paid back more than $56,000.

Schute pleaded guilty in February to one count each of wire fraud and filing false tax returns.

At Monday’s sentencing hearing, Schute said wrote checks to himself from the company’s bank account between 2008 and his firing in April 2013 to pay off his personal credit cards and other bills. He then falsified records to cover it up and left the money off his tax returns.


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