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Release Date:12/15/1998
Release Number: OPA
KC-PWBA-13
Contact Name: Norma J. Conrad
Phone Number:
816.426.5491
Contact Name:Patrick A. Hand
Phone Number:
816.426.5490
Contact Name: Sharon Morrissey
Phone Number: Phone Number:
202.219.8921 |
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The former owner of an Overland Park, Kan. company pleaded guilty
to a one-count information charging him with embezzling assets from his
company’s 401(k) plan. According to the guilty plea filed Dec.11, Allen
Sander, acting as sole trustee of the Shamrock Services Company Employees’
Saving Plan, a 401(k) defined contribution plan, allegedly embezzled plan
assets, including employee contributions between July 1991 and January 1996.
The plan covered 15 employees. |
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As a result of this week’s guilty plea, Sanders faces a
maximum penalty of five years in prison, restitution and a fine of $250,000 or
twice the amount of the loss, whichever is greater. Sentencing is scheduled for
March 1, 1999 before U.S. District Court Judge Kathryn H. Vratil. Note,
however, that the Court, guided by the U.S. Sentencing Guidelines, will
determined the sentence to be imposed. The criminal case was prosecuted by
Assistant United States Attorney Brent Anderson. |
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This case is part of a national enforcement initiative by the U.S.
Department of Labor’s Pension and Welfare Benefits Administration (PWBA)
to prevent employers from diverting employee contributions for personal or
company gain. The guilty plea followed an investigation by PWBA’s Kansas
City Regional Office. |
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(U.S. v. Sander)
Criminal Action CR 98-20073-EEO
The
Civil Action Case (Herman v. Sander et al.) - CIV 9802009-JHL |
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U.S. Department of
Labor news releases are accessible on the Internet. The information in this
news release will be made available in alternate format upon request (large
print, Braille, audio tape or disc) from the Central Office for Assistive
Services and Technology. Please specify which news release when placing your
request. Call 202.693.7773 or TTY 202.693.7755. |
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