Pension & Benefits News Trucking company, CFO, plan trustee pay $454K in restitution to ESOP
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Thursday, November 21, 2019

Trucking company, CFO, plan trustee pay $454K in restitution to ESOP

By Pension and Benefits Editorial Staff

The U.S. District Court for the Eastern District of Tennessee has approved a settlement between the U.S. Department of Labor and Big G Express Inc., Stephen Thompson, and David Nolan involving the company's Employee Stock Ownership Plan (ESOP).

In accordance with the consent judgment, Big G Express – a Shelbyville, Tennessee-based trucking company – paid $454,545 in restitution to the plan. The Department also assessed a civil penalty of $45,454 against the defendants.

Source: DOL News Release No. 19-1456-ATL.

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