Friday, February 27, 2009

Massachusetts Investment Executive Indicted On Embezzlement Charges

Mark J. Harrington, 52, of West Roxbury, Massachusetts and the former controller of Boston-based Anchor Capital Advisors, was indicted today on charges that he embezzled some $368,000 from the company's 401(k) plan. Harrington, acting with an accomplice, Carmine P. Arenella transferred the funds over a six month period, to two bank accounts associated with an adult escort business the two were involved in, according to investigators. He faces up to five years in prison, plus a fine of $250,000 and restitution.

Read the story here and here.

Read the DOJ announcement here.

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