Good news for some pension funds who got screwed
Some justice for some folks.
Firm charged with $25M in pension losses - InvestmentNews
From 2002 to 2006, the defendants used $25.9 million of the plans’ assets to pay for the operating expenses of the firm, renovations to a horse farm and the costs of a strip club managed by Mr. Orecchio, the DOL alleges. The pension plans covered more than 60,000 participants of the Carpenters Pension Trust Fund of Detroit and Vicinity, Operating Engineers Local Number 324 Pension Fund, Michigan Regional Council of Carpenters Annuity Fund, Millwrights’ Local Number 1102 Supplemental Pension Fund and Michigan Teamsters Joint Council #43 Pension Fund.
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.