12/24/2002: Shoulda Seen It Coming? DOL Sues Trustee for Allegedly Loaning Funds to Psychic Discovery Network (U.S. Department of Labor, Pension and Welfare Benefits Administration)Excerpt: "Richard Peplin, Jr. allegedly violated [ERISA] by investing all of the plan's assets in risky investments with companies affiliated with him. He allegedly loaned plan assets to Viatech Communications Group, Inc. and its subsidiary Psychic Discovery Network. The companies stopped operating in August 1997 without repaying the plan loans."
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