Richmond Actuary Pleads Guilty to Fraud Charges

This document is about James M. DeGrandis, Jr., a 54-year-old actuary from Fredericksburg, Virginia who pleaded guilty to making a false statement in relation to a document required by the Employee Retirement Income Security Act (ERISA). DeGrandis was employed as an actuary by a regional firm in Richmond but had not satisfied the legal standards and qualifications to be an enrolled actuary. He nevertheless signed off as an enrolled actuary on a Statement of Accuracy and Completeness for an Employee Retirement Account Plan and Trust in Baltimore. DeGrandis faces up to 5 years in prison when sentenced in February 2017.