Hutcheson, 41, is a former trustee and fiduciary for the G Fiduciary Retirement Income Security Plan and the Retirement Security Plan & Trust. During his trial, the government presented evidence that beginning in 2010, Hutcheson perpetrated schemes to defraud the two plans, and misappropriated more than $5 million of plan assets. (See “Former Pension Fiduciary Convicted of Wire Fraud.”)
In announcing the sentence, U.S. District Judge William Fremming Nielsen noted that Hutcheson defrauded more than 250 individual victims, used sophisticated means to commit his offenses, abused a position of private trust as a fiduciary and trustee for the plans, and willfully obstructed justice by committing perjury at trial and offering a fraudulent document into evidence.
“The defendant’s despicable conduct jeopardized the financial security of workers covered by these pension plans,” said Assistant Secretary of Labor for Employee Benefits Security Phyllis C. Borzi. “He funded a life of luxury at the expense of hundreds of people who were just trying to save for retirement. This case is indicative of our close and continued partnership with fellow federal agencies to vigorously pursue those who abuse their positions of trust and commit crimes against employee benefit plan participants.”
Judge Nielsen also ordered Hutcheson to serve three years of supervised release and pay $5,307,688 in restitution to the victims.Hutcheson made a bid to delay sentencing, which was turned down on July 23.