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Second Circuit: Participant's 401(k) Plan Accounts Were Subject to Garnishment
Thomson Reuters Practical Law Aug. 26, 2022 "After the participant was convicted of conspiracy to commit wire fraud and conspiracy to commit securities fraud, he was ordered to pay $10,447,979 in restitution.... [T]he government applied for a writ of garnishment ... [T]he Second Circuit concluded that the participant's 401(k) accounts were subject to garnishment but remanded to the district court to consider issues related to the 10% tax on early distributions." [United States v. Greebel, No. 21-993 (2d Cir. Aug. 24, 2022)] |
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