Former carpenters benefits plan administrator admits embezzling $140,000


The former executive director of a carpenters union pension fund today admitted to embezzling approximately $140,000 and making false claims on a report required of the U.S. Department of Labor (DOL), the US Department of Labor (DOL) reported today. today US Attorney Philip R. Sellinger.

George R. Laufenberg, 72, of Wall Township, New Jersey, pleaded guilty before U.S. District Judge Kevin R. McNulty in federal court in Newark to two counts accusing him of embezzling approximately $140,000 pension benefits (count one) and making false statements to the DOL (Count Five).

According to documents filed in this case and statements made in court:

Laufenberg was the administrative director of the Northeast Carpenters Pension Fund, which was subject to the Employees Retirement Income Security Act (ERISA). Laufenberg was a trustee and participant in the pension fund. He admitted to stealing $140,000 that had been paid to him under a deferred compensation arrangement to which he was not entitled. Laufenberg also admitted to making misrepresentations in a form required under ERISA that he filed with the Department of Labor on behalf of the pension fund.

The maximum penalty for each count is five years in prison and a $250,000 fine. Sentencing is scheduled for October 6, 2022.

US Attorney Sellinger credited special agents from the DOL Employee Benefit Security Administration, under the supervision of Thomas Licetti, regional director; Special Agents from the DOL Office of Inspector General, under the supervision of Special Agent in Charge Jonathan Mellone; and Port Authority of New York/New Jersey officers, under the supervision of Inspector General John Gay, the investigation leading to today’s guilty plea.

The government is represented by Senior Litigation Counsel V. Grady O’Malley of the Organized Crime/Gangs Unit, and Assistant US Attorney Kendall R. Randolph of the Organized Crime and Drug Enforcement Task Force Unit.

22-210

Defense Attorney for Defendant Peter W. Till Esq., Springfield Township, New Jersey

(Visited 716 times, 1 visits today)

Article tags:

Click here for the full insider index

Previous 5 Best Online Payday Loans - Online Payday Loans Same Day Deposit & No Rejection Payday Loans Direct Lenders in 2022
Next Initiative to cap interest rates on payday loans submits signatures for Michigan ballot - Ballotpedia News