Ohio Businessman Sentenced For Embezzling Pension Assets

Archived News Release — Caution: Information may be out of date.

A Macksburg, Ohio businessman, Paul M. Hetrick, was sentenced today to two years of probation and 4 months’ home incarceration by electronic monitoring. Hetrick has agreed to make full restitution of $23,310 to the plans.

Hetrick pleaded guilty September 26, 1997 to one count of embezzling more the $17,000 from two pension plans sponsored by Paul and Peg’s Parts Corporation. He is the former trustee of the plans and the president of the now-defunct company. Hetrick was indicted by a federal grand jury following an investigation by the Cincinnati Regional Office of the U.S. Department of Labor’s Pension and Welfare Benefits Administration (PWBA).

This case is part of a nationwide crackdown on the misuse of employee benefit plan assets. Joseph Menez, PWBA Regional Director, said, “We will continue to ferret out criminal activity involving pension plans wherever and whenever it occurs.” The case was prosecuted by the U.S. Attorney’s Office in Columbus, Ohio.

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Archived News Release — Caution: Information may be out of date.

Contact Name: Gloria Della
Phone Number: 202.219.8921