OKLAHOMA CITY – A longtime Tulsa 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 Tuesday.
Fred Schraeder, 61, entered a guilty plea to one count of conspiracy to commit workers’ compensation fraud. He received a 5-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.
The Attorney General’s Workers’ Compensation Fraud Unit is the only law enforcement agency in Oklahoma dedicated to the investigation and prosecution of workers’ compensation fraud. The Unit also helps raise public awareness of fraud across the state.
Source: Oklahoma Attorney General