Date of Action: May 10, 2013
Type of Action: Consent Order and Judgment
Name of Defendant: John A. Levy
Allegations: Levy, in his capacity as a fiduciary to the Romaine Inc. 401(k) Plan, failed to remit $10,286.41 in employee contributions and loan repayments to plan during periods from Jan. 5, 2007, through April 29, 2011. In addition, Levy failed to remit employee contributions and loan repayments to the plan in a timely manner during the same period.
Resolution: As terms of the consent order and judgment, Levy has repaid to the Romaine Inc. 401(k) Plan a total of $11,029.57, which includes $10,286.41 in unremitted employee contributions and loan repayments and $743.16 in lost opportunity cost.
Levy is also permanently enjoined from serving or acting as a fiduciary or service provider with respect to any employee benefit plan subject to the Employee Retirement Income Security Act.
Court: Northern District of Indiana, South Bend Division, and US Bankruptcy Court for the Northern District of Indiana, South Bend Division
Docket Number: 11-cv-00460
U.S. Department of Labor materials are accessible at www.dol.gov. The information above is available in large print, Braille, audio tape or disc from the COAST office upon request by calling 202-693-7828 or TTY 202-693-7755.