Executive Accused
of Looting
Pension Plan
from The Los Angeles Times,
Business, Part D Page 14, November 16, 1995
partial reprint; contact The Los Angeles Times for complete
text
EXCERPT:
"A federal grand jury in Birmingham,
Ala., has indicted a Mission Viejo businessman on embezzlement
and mail fraud counts, charging that he used $700,000 in pension
assets for personal and business expenses."
OTHER POINTS:
 According to the indictment,
Richard T. Price used a series of loans and loan prepayment transactions
to transfer the $700,000 of plan assets to the company and a
parent company, from which he withdrew it for personal and business
expenses.
Accused was the trustee
of the company 401(k) plan.
Indictment handed down
on November 8, 1995.
For complete text, contact
The Los Angeles Times.
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