PORTLAND, Ore. (AP) — The U.S. attorney’s office in Portland says a former top business executive has been sentenced to nearly four years in prison for wire fraud and ordered to pay more than $1.4 million in restitution to his old company, DAT Solutions.
David Schrader of Portland was sentenced Wednesday in federal court. He pleaded guilty to wire fraud in June. Schrader must also pay what prosecutors described as a “sizeable money judgment” to the government.
Prosecutors say the 47-year-old man stole more than $1.4 million from his company by submitting expense reports that either falsified or inflated the amounts to which he was entitled.
When the theft was discovered, the U.S. attorney’s office says the senior vice president of operations was one of DAT’s highest-paid employees, earning nearly half a million dollars in salary and benefits.
A former company president, Tim Bickmore, testified that due to the recession and Schrader’s theft, DAT was forced to lay off multiple employees and adjust the salaries of others, many in Oregon.
