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DOL Sues Minnesota Automobile Dealership and Executives Over $240,500 In Profit Sharing Plan Loans
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] 
Mar. 28, 2001
Excerpt: According to the lawsuit, the profit sharing plan made a series of [now-defaulted] unsecured loans totaling $205,000 to Johnson Motor Company from June 1986 to October 1987. The plan made the loans without executing loan agreements and failed to report the loans on the Form 5500 annual reports required to be filed with the Labor Department.
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