SAGINAW, Mich. – A used car dealer who stole $89,500 belonging to Communications Family CU from the sale of repossessed cars on Wednesday was sentenced to five years probation and ordered to repay the funds to the credit union.
Henry Schumann, the owner of M&H Auto Brokers, was sentenced in an adjacent county as all local judges had recused themselves because they knew the auto dealer.
Credit union officials said nine of the 19 cars Schumann was supposed to broker for them had been sold between July 2007 and June 2008, without the credit union being informed or paid. The attorney for the 52-year-old car dealer told the court that Schumann ran into financial problems and "robbed Peter to pay Paul."
To ensure full payment, the court will collect 25% of Schumann’s net income and put a lien on his property until his debt is paid.
