Printer Friendly Version
Release Date: October 1, 2008
Release Number: 08-1386-CHI
Contact Name: Gloria Della/Richard Manning
Phone Number: 202.693.8664/202.693.4676
Columbus, Ohio — The owner of Laser Saver
Inc. in Columbus today pleaded guilty in U.S. district court to willful
failure to file with the U.S. Department of Labor annual financial
reports for the company’s 401(k) retirement plan that are required by
the Employee Retirement Income Security Act.
Gregory G. Lockhart, U.S. attorney for the Southern
District of Ohio, and Paul Bauman, acting regional director of the Labor
Department’s Employee Benefits Security Administration (EBSA) in
Cincinnati, announced that Jeffrey Miller of Ostrander, Ohio, pleaded
guilty to one count of a felony information that charged him with
willful failure to file financial reports for the Laser Saver 401(k)
employee pension benefit plan.
During the period from January 1, 2003, through
December 31, 2005, Miller was the sole owner of the company and trustee
of the plan. Miller admitted in court that during this time, he was
required as the plan trustee to file annual financial reports for the
Laser Saver 401(k) plan with the Department of Labor but willfully
failed to do so.
Miller faces possible imprisonment for up to 10 years
and up to $250,000 in fines. As part of his plea agreement, he agreed to
remit to the retirement plan by the time of his sentencing all
contributions that he withheld from Laser Saver employees’ paychecks
since August 2003 but failed to deposit into the plan. The company
repairs printers and re-manufactures printer cartridges.
“Trustees of a 401(k) plan have a responsibility to
protect plan assets by ensuring that reports required by law on the
plan’s financial condition are filed correctly and in a timely
manner,” said Bauman.
This case resulted from an investigation conducted by
EBSA’s Cincinnati Regional Office.
United States v. Miller
Criminal Number 2:08-CR-150
U.S. Department of Labor news releases are accessible on the
Department's Newsroom
page. The information in this news release will be made available
in alternate format (large print, Braille, audio tape or
disc) from the COAST office upon request. Please specify which news release when
placing your request at 202.693.7828 or TTY 202.693.7755. The Labor Department is committed to providing America's employers and
employees with easy access to understandable information on how to comply
with its laws and regulations. For more information, please visit the
Department's Compliance
Assistance page.
|