The former president and chief operating officer of Manson Insurance in Wausau will plead guilty to fraud charges in a deal with federal prosecutors.
According to court documents, Timothy Mathwich of Wausau is set to enter a plea next week to conspiracy to commit bank fraud and conspiracy to misappropriate insurance credits.
A number of other charges were dropped in exchange for the plea.
Mathwich faces up to 10 years in prison.
He was indicted in September for fraud schemes that reached nearly $7.5 million.
Two other former Manson employees have already been sentenced to prison for their role in the crime