News & Analysis as of

Embezzlement Employee Retirement Income Security Act (ERISA)

Blank Rome LLP

Court: Federal Restitution Rights Override ERISA 401(k) Plan Protection

Blank Rome LLP on

A federal appeals court recently ruled that an employer was entitled to a former employee’s 401(k) plan funds as restitution for that employee’s embezzlement. However, writes Dan Morgan of Blank Rome, the court failed to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Assets being stolen, it can happen, it has happened

A third-party administrator (TPA) and/or plan fiduciary stealing plans assets is easier than you think. TPA Vantage Benefits stole $14 million from 6-7 of their clients wasn’t be surprising to me because I saw it before with...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Call an ERISA attorney when you get the government’s call

When you get pulled over by the police while driving, the best way to handle is to be pleasant and not be argumentative. You listen to the officer as to why he pulled over. Being belligerent and non-cooperative will only lead...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Vantage defaults in first case decision

It didn’t take long for the first decision in a lawsuit against vantage Benefits and its owners when they defaulted. A default judgment was handed down by Judge David C. Godbey of the U.S. District Court for the Northern...more

Stinson - Benefits Notes Blog

Embezzlement of 401(k) Deferrals by COO of Architecture Firm is (Doubly) Costly

On March 22, 2017, the U.S. Court of Appeals for the Second Circuit ruled against Christine Bodouva that her restoration of funds to her Company’s 401(k) Plan should be offset against the District Court’s order for forfeiture...more

Stinson - Benefits Notes Blog

A Bad Deed is Not Entirely Unpunished

Richard Thomas embezzled nearly $20,000,000 from his employer. The employer then kept Thomas’s profit sharing account of about $21,000 as an offset against the embezzled amount. Of course, this violated ERISA’s...more

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