New York-Based Burger King Franchise Owner Accused Of Embezzling $263K From Employee Retirement Fund

Steven M. Zavidow, 51, of Hillsdale, New Jersey, has been charged with embezzling some $263,000 from the retirement fund of his employees at the 11 Burger King restaurants he owns. According to prosecutors, during 2006, Zavidow wrote checks from the retirement fund account to himself and deposited them into his wife's and mother's accounts or cashed them. Zavidow faces up to 5 years in prison for each of the felony embezzlement counts he has been charged with, if convicted. He also faces fines and restitution. Zavidow appears to be currently affiliated with Paramus, New Jersey-based The Goldstein Group, a real estate management and investment firm.

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Update (10/14/11): Zavidow, now 52, has been sentenced to 18 months in prison.  Prosecutors alleged that Zavidow began siphoning funds from the company's pension plan as early as 2003, but cut a plea agreement admitting to the thefts in 2006.