A Maryland business owner will serve one year and one day of imprisonment and pay more than $350,000 in restitution for violations of the Employee Retirement Income Security Act.
Tag: Employee Benefits Security Administration
A federal district court has ordered eye-care company Eye Centers of Tennessee LLC, its owner Dr. Larry E. Patterson, and its office administrator Raymond K. Mays to pay $971,622 in restitution to the company’s 401(k) plan.
The trustee is ordered to pay $234,271 in restitution, serve a year of probation and is barred from serving as a fiduciary to a benefit plan for 13 years.
Nearly $700 million was in recoveries from enforcement actions.