Date of Action: June 29, 2015
Name(s) of Defendant: Thomas Cullen, Thomas E. Moore Inc., and Thomas Moore/Video Scene of Delaware Simple IRA Plan
Allegations: Based on an investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration, the Secretary of Labor filed a complaint alleging the following:
The company established the plan in 1999 that was funded by employee elective salary deferrals and mandatory employer matching contributions. From December 2011 through May 2013, plan fiduciaries, Cullen and the company, failed to ensure employee contributions were remitted to the plan. Instead, employee monies were commingled with the general assets of the company. Also, from July 2010 through the date of the complaint, Cullen and the company failed to remit mandatory employer contributions to the plan.
Resolution: The department is asking the court to direct the defendants to restore all losses plus interest to the plan, and permanently enjoin Cullen and the company from serving as fiduciaries or service providers to any plan covered by the Employee Retirement Income Security Act of 1974.
Court: United States District Court for the District of Delaware
Docket Number: 1:15-cv-00555-UNA
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