Labor Department: Former Jenny Craig franchise owner kept employees' retirement contributions

[Omaha Steve]

Source: syracuse

By Rick Moriarty

Liverpool, N.Y. — The owner of a former Liverpool-based Jenny Craig weight loss franchise has been ordered to pay back money he collected from his employees but never put into their retirement accounts.

In a consent judgment filed in U.S. District Court in Boston on Jan. 8, Richard C. Herring, of Wellesley, Mass., was ordered to pay the $8,646 that he withheld from the pay of 26 employees as contributions to their company retirement plan accounts. He also must pay interest on the funds.

In a complaint filed along with the consent judgment, the U.S. Labor Department said Herring, owner of Central NY Weight Loss LLC, withheld the money from five pay periods between June 2012 and October 2013.

The money was supposed to be deposited in the workers' retirement accounts in the company's Employee Savings Retirement Plan and Trust, which was established in May 2012. However, it was never put into the accounts, the Labor Department said.

FULL story at link.




Read more: http://www.syracuse.com/news/index.ssf/2015/01/former_jenny_craig_franchise_owner_kept_employees_retirement_contributions.html

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They want to privatized Social Security???

[7962]

1. Should be JAIL + restitution.

[BlueJazz]

2. Quite True. We all hear about stuff like this where the person..OK..Thief..takes money from their..

...company, gets caught and then receives the Horrible punishment of "Paying it back with interest"

Oh the Inhumanity !!

[groundloop]

3. Damned thief - yet another way the rich are stealing from the rest of us

[Hoppy]

4. Actually, he was just trying to help them by privatizing their pensions.

They would have gotten the same returns as employees whose companies were taken over by corporate raiders.

[marym625]

5. Why isn't he in jail?

Why doesn't he have to pay anything they would have made on that money?

Yeah, a black kid steals a few smokes and gets death. A black man might have been selling a few smokes and gets death. This guy steals thousands of dollars from employees and has to pay it back.

Sometimes I really hate this country.

[Hoppy]

7. If he's in jail, he probably wouldn't be able to repay the fund.

[marym625]

8. defer it

Pay it back then jail. Grand larceny shouldn't be a walk

[closeupready]

9. Didn't stop them from putting Bernie Madoff behind bars.

[Hoppy]

10. But there was no way Uncle Bernie was ever going to repay his customers.

[closeupready]

11. Well if the perp in the OP owes a reasonably attainable amount, then house arrest

with allowed furloughs only for work-related travel would seem a good way of compromising.

[Ash_F]

15. It's 8 grand. He should have assets. /nt

[cstanleytech]

6. If one of his employees had stolen this much they probably would be in jail for a few years. nt

[Deuce]

13. Yep, and would have to pay the money back...

[olddots]

12. the diet bizz is the sleeze bizz

Buyers be very aware .

[WestSeattle2]

14. This guy didn't do anything wrong. He was simply

following the business model of Romney/Bain Capital. Now think about this - this guy will pay back more to the employees he stole from than Romney. RMoney didn't pay back a cent; in fact he calls himself a successful businessman.