Date of Action: May 22, 2013
Type of Action: Complaint and Consent Judgment
Name(s) of Defendant(s): Vineet Kalucha
Allegations: Vineet Kalucha was an officer, director and shareholder of Q. Know Technologies Inc., a software development company in Reston, Va. In 2003, Q. Know established the Q. Know Technologies Inc. 401(k) employee benefit plan. Kalucha was a fiduciary of the plan and was responsible for making decisions concerning the remittance of contributions. An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found that Kalucha failed to ensure that employee contributions were remitted to and collected by the plan in a timely manner. The investigation determined that employee deductions representing voluntary contributions to the plan, totaling $16,860.21 plus interest, were not remitted to the plan. On March 28, 2013, Kalucha signed a settlement agreement with the department agreeing to restore $16,860.21 in employee contributions plus $3,973.87 in interest on or before April 15, 2013. The settlement agreement also provided that the department could file a consent judgment if it determined that Kalucha failed to remit the funds due to the plan by April 30, 2013. Kalucha failed to do so.
Resolution: The U.S. Department of Labor filed a complaint on May 21, 2013, and the court entered a consent judgment on May 22, 2013, ordering Kalucha to restore plan losses and interest totaling $20,834.08 to the company’s 401(k) employee benefit plan. Under the judgment, the defendant will be permanently enjoined from acting as a fiduciary or service provider to any plan covered by the Employee Retirement Income Security Act.
Court: United States District Court for the District of Columbia
Docket Number: 13-00738
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.