A longtime Tulsa, Okla., criminal defense attorney has pleaded guilty in Tulsa County District Court for his role in helping embezzle more than $1 million from clients, Attorney General Scott Pruitt said.
Fred Schraeder, 61, entered a guilty plea to one count of conspiracy to commit workers’ compensation fraud. He received a five-year deferred sentence and will pay more than $36,000 in restitution, $500 in fines and a $100 victim’s compensation assessment. The Oklahoma Bar Association’s Clients’ Security Fund is also assisting in reimbursing victims. Schraeder must surrender his law license and isn’t eligible to re-apply while on probation.
In August, Schraeder’s accomplice, William Anton, received four consecutive sentences totaling 35 years, with 25 years suspended. He was ordered to pay $702,813 in restitution and surrender his law license.
The Attorney General’s office filed charges against Schraeder and Anton, alleging they embezzled money between 2004 and 2009 from clients’ personal injury benefits, insurance settlements and workers’ compensation benefits. The defendants purportedly embezzled more than $1 million from 49 identified victims.
Source: Oklahoma Attorney General’s Office
Topics Fraud Workers' Compensation Oklahoma
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers 
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
Lemonade Books Q4 Net Loss of $21.7M as Customer Count Grows 
