Labor & Employment Developments Blog

The U.S. Department of Labor Employee Benefits Security Administration (“EBSA”) discovered that William H. Minor, a former board member of Rehabilitation Center for Children & Adults Inc. who also volunteered to manage its pension plan, embezzled approximately $2 million from the pension plan.  Minor operated Multi Financial Insurance Corp. an entity that provided investment advice and administrative services to pension plans. 

EBSA discovered that Minor moved the plan’s assets to a life insurance company with which Minor was a registered agent.  Minor then falsely ...