Investigation returns $39.8M to more than 400 benefit plans nationwide

EBSA News Release: [02/18/2015]
Contact Name: Joanna Hawkins
Phone Number: (215) 861-5101
Email: Hawkins.Joanna@dol.gov 
Release Number: 15-0246-PHI

Judge orders restitution and bars defendants as fiduciaries, service providers to ERISA-covered plans

BRIDGEPORT, Pa. — After nearly six years of litigation, a federal district court in Philadelphia recently entered a $39.8 million judgment, protecting the rights of workers who participated in more than 400 death benefit plans mismanaged by John J. Koresko V; companies he controlled; and a former associate, Jeanne Bonney. The defendants are permanently barred from serving as fiduciaries to any employee benefit plan and, with the exception of Bonney, must make restitution to the plans.

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