February 11, 1998
Former Georgia Pension Trustee Sentenced For Embezzling Plan Money
Archived News Release — Caution: Information may be out of date.
A former trustee of the Glasstream Boats, Inc. profit sharing plan in Nashville, Ga. was sentenced to six months in prison for embezzlement of more than $149,000 in plan assets for his own use. Adolphus L. Kirkland Jr. has already paid $149,557.11 in restitution to the plan.
The profit sharing plan covered 112 participants and had $298,839 in assets as of April 30, 1992. Kirkland was the sole trustee of the plan.