Friday, December 3, 2010

Ohio Executive Sentenced For Pilfering $186K From Employee Retirement Plan

Gary L. Merritt, believed to be 60 years old, of Dayton, Ohio, was sentenced to just five years probation for embezzling $186,070 from the employee retirement plan of Bemcore Inc., where he was employed as a vice president as well as served as trustee for the company's 401(k) retirement plan. Merritt must also pay full restitution as part of the sentence. Merritt, who was indicted in May, plead guilty in August to a one-count indictment of embezzlement from an employee retirement plan for his own benefit. According to authorities, Merritt's misappropriation occurred between January 22, 2009 and May 12, 2010.

Read the story here and here.

Read the US Department of Labor announcement here.

Seems like a light sentence to me, IMHO...

1 comment:

Anonymous said...

Very light sentence. No interest to be repaid?