The feds say the manager used the company credit card for family meals, vacations and boating
Area business manager for a crop science company in Missouri He used his business credit card For more than $100,000 in personal purchases, according to federal authorities.
From approximately May 2014 to March 2022, authorities said Matthew Olinger used the company’s credit card for family meals, vacations, clothing, boating and other entertainment.
“In total, (Olinger) incurred at least $180,000 in charges on his corporate credit card that were in no way related to his employment,” according to his signed plea agreement.
Now, the 40-year-old from Florida has been sentenced to a year and a day in prison for fraud, according to a Nov. 16 news release from the U.S. Attorney’s Office for the Eastern District of Missouri. He was also ordered to pay $183,424 in restitution, court records show.
McClatchy News reached out to Olinger’s defense attorney on Nov. 17 and was awaiting a response.
Authorities said Olinger concealed his theft by submitting false and altered receipts to his employer.
As a district business manager, Olinger was allowed to use company funds to help gardeners, “employees who sold seeds to regional customers,” purchase certain farm equipment, prosecutors said.
In 2022, he misused $100,000 in company funds to help a seed seller purchase a 2022 Cobalt R35 boat and trailer for no business purpose, authorities said.
“Olinger authorized an employee to sign a contract with a (seed seller) who would embezzle $75,000 of company funds each year for a decade, or a total of $750,000, to purchase the Cobalt boat and trailer and pay for associated boating expenses,” officials said. “Olinger stole $100,000 of company funds by submitting three fraudulent financing applications to his employer for ‘seed tenders’ and ‘seed equipment’ before the company discovered his scheme.”
Authorities said the stolen money has since been repaid.