Youngstown Plan Trustee Charged With ERISA Violation

Archived News Release — Caution: Information may be out of date.

Cincinnati, Ohio - Federal charges were filed August 16 against a Youngstown, Ohio man, Larry E. Justice, for his willful failure to maintain required records for his company’s pension plan in violation of the Employee Retirement Income Security Act of 1974 (ERISA).

According to Assistant United States Attorney Christian Stickan, Justice faces a maximum potential penalty of 1 year imprisonment and a $5,000 fine.

The information alleges that between 1996 and 2000, Justice failed to maintain records on matters of which disclosure was required relating to the Economy Electric Company, Inc. Employee Stock Ownership Plan. He was company president and trustee of the plan at the time.

No date has been set for him to appear in United States District Court in Akron.

The criminal investigation was conducted by the Cincinnati Regional Office of the Labor Department’s Pension and Welfare Benefits Administration.

The charges in the above information are accusations only and the defendant is presumed innocent unless and until proven guilty.

(U.S. v. Justice
Criminal Action No. 01 MG 5111)

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Archived News Release — Caution: Information may be out of date.