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Press Release

Florida Man Sentenced to Prison for Embezzling from Missouri Company

For Immediate Release
U.S. Attorney's Office, Eastern District of Missouri

ST. LOUIS – U.S. District Judge John A. Ross on Thursday sentenced a man who embezzled about $280,000 from his employer to buy a boat and make other personal purchases to a year and a day in prison.

Matthew Olinger, 40, of Florida, pleaded guilty to a felony wire fraud charge in July and admitted embezzling from his employer in two ways. Olinger worked for a seed company as an area business manager, managing field sales representatives and occasionally purchasing agricultural equipment for the seedsmen, employees who sold seeds to regional customers. 

Olinger fraudulently misused his company credit card to make at least $180,000 worth of personal purchases on hundreds of occasions, including family meals, vacations, clothing, boating expenses and personal entertainment, his plea agreement says. Olinger covered up the personal purchases by submitting fake or altered receipts to the company.

Olinger also stole company funds to help a seedman buy a 2022 Cobalt R35 boat and a trailer. Olinger authorized an employee to sign a contract with a seedman that would have misappropriated $75,000 in company funds each year for a decade, or a total of $750,000, to buy the Cobalt boat and the trailer and pay associated boating expenses. Olinger stole $100,000 in company funds by submitting three fraudulent funding requests to his employer for a “seed tender” and “seed equipment” before his scheme was discovered by the company.

The money has been repaid to the company.

The FBI investigated the case. Assistant U.S. Attorney Derek Wiseman prosecuted the case.


Robert Patrick, Public Affairs Officer,

Updated November 16, 2023

Financial Fraud