LAWFUEL – The Legal Newswire – MICHAEL J. GARCIA, the United States Attorney for the
Southern District of New York, BRADFORD CAMPBELL, the Assistant
Secretary of the Employee Benefits Security Administration,
United States Department of Labor, and GORDON S. HEDDELL, the
Inspector General for the United States Department of Labor
(“DOL”), announced today the arrest of CLYDE KELLY, on charges of
embezzling money from an employee pension plan and failing to
file the required financial reports for the employee pension
plan. According to the Indictment filed in Manhattan federal
court:
From approximately late-May 2002 to mid-March 2006,
KELLY embezzled money from the Mott Haven Furniture Co., Inc.
Employee Profit Sharing Plan, an employee pension plan subject to
the provisions of the Employee Retirement Income Security Act,
for his own personal use and for the use of others. KELLY also
failed to file the required annual financial reports with the
Department of Labor. KELLY also faces a forfeiture allegation of
at least $1,000,000, a figure representing the alleged proceeds
obtained from the charged offenses.
MR. GARCIA praised DOL’s Employee Benefits Security
Administration and the Office of the Inspector General for their
work on this investigation.
Assistant United States Attorney ANTONIA M. APPS is in
charge of the prosecution.
The charges contained in the Indictment are merely
accusations, and the defendant is presumed innocent unless and
until proven guilty.
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