Dallas Businessman Indicted For Misappropriating Pension Assets

Archived News Release — Caution: Information may be out of date.

The owner of Dallas-based Programmed for Success today was indicted by a Dallas County grand jury for misappropriating $4,044 in pension contributions owed to the company’s retirement plan.

The company is a computer programming services contractor which sponsored a salary reduction simplified employee pension plan (SARSEP). The SARSEP is governed by the Employee Retirement Income Security Act (ERISA).

Donald Joseph Isgitt allegedly misappropriated employee contributions of the retirement savings plan from March to October 1995 by retaining the contributions in the corporate checking account and using the money to operate the business. At the time of the improper action, Isgitt was the owner of the company and responsible for enrolling employees in the plan, withholding employee contributions and depositing the money in the trust.

The case resulted from an investigation conducted by the Dallas Regional Office of the Labor Department’s Pension and Welfare Benefits Administration into alleged violations of ERISA. The case is being prosecuted by the Dallas County Criminal District Attorney’s Office.

(State of Texas v. Isgitt)
Criminal No. 4977-A1

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Archived News Release — Caution: Information may be out of date.

Contact Name: Gloria Della
Phone Number: 202.219.8921