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Philadelphia, Pennsylvania - A New Jersey grand
jury indicted the owner of Knight Contracting Company, Clarksburg, New
Jersey, on one count of theft for failing to forward approximately
$500,000 in employee contributions to the company’s pension plan.
“Theft of workers’ retirement funds will not be
tolerated,” said Ann L. Combs, assistant secretary of labor for employee
benefits security. “This case reaffirms our commitment to protecting
workers’ benefits by identifying criminal activity wherever and whenever
it occurs.”
Frank V. Knight was charged with second-degree theft
for failing to deposit employee contributions into his company’s plan
from July 26, 2002 to December 20, 2003. If convicted, Knight faces a
maximum sentence of 10 years in prison and $150,000 in fines.
Knight Contracting Company sponsored the pension plan
for approximately 120 employees. The plan was funded with fringe benefit
contributions mandated under a prevailing wage contract with the state of
New Jersey.
The New York regional office of the Labor Department’s
Employee Benefits Security Administration and the Monmouth County, New
Jersey, Police Department conducted the investigation. The indictment was
handed down by a Monmouth County grand jury.
(State of New Jersey v. Knight)
Case No.05-01617 |
