Red Oak couple accused of embezzling $14.5 million from retirement plans
A Red Oak couple is accused of embezzling $14.5 million from retirement plans they managed, according to a federal indictment filed Wednesday.
Jeffrey Richie, 53, and Wendy Richie, 58, co-owners of Vantage Benefits Administrators, were charged with conspiracy, theft from an employee benefit plan, wire fraud and aggravated identify theft.
According to the indictment, which was issued by the U.S. District Court for the the Northern District of Texas, Vantage served as third-party administrator for dozens of retirement funds, including several 401(k)s.
The indictment alleged Wendy Richie posed as several beneficiaries and submitted fraudulent distribution requests to the retirement fund custodian, Matrix Trust Co.
Read more: https://www.dallasnews.com/news/crime/2018/10/24/indictment-charges-red-oak-couple-embezzling-145-million-retirement-plans
= new reply since forum marked as read
