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2d Circuit: Fiduciary Liable for Losses for Failure to Protect Plan from Known Embezzler (PDF)
U.S. Court of Appeals for the Second Circuit via FindLaw 
[Opinion] June 23, 2006 22 pages. The defendant was the administrator of a multiemployer health fund; the U.S. Department of Labor brought suit, accusing the defendant of having breached her fiduciary duties to the fund by allowing the fund to deal with a known embezzler (an individual who had been convicted and jailed for embezzling from another employee benefit fund) who proceeded to embezzle employer contributions meant for the fund. [Chao v. Merino, No. 04-2125 (2d Cir. Jun. 21, 2006)] MORE >> |
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