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Release Date: 12/08/1998 Release Number: USDOL
Seattle 98-200 Contact Name: Mike Shimizu Phone Number:
206.553.7620 |
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Michael Ted McKendree, 39, of Corte
Madera, Cal., was arrested today by Special Agents of the Federal Bureau of
Investigation on an eleven-count indictment returned on December 2, 1998, by a
Federal Grand Jury in San Francisco. McKendree was indicted for allegedly
embezzling funds from a pension plan covered by the Employee Retirement Income
Security Act of 1974 (ERISA) and for mail fraud. |
McKendree was charged with one count of embezzling $430,000 from
the Richmond Wholesale Meat Packing Profit Sharing Plan by brokering real
estate loans to the Plan which were purportedly secured by deeds of trusts on
real property. |
According to the indictment, between March 1993 and October 1994,
McKendree allegely furnished the Plans trustees and administrator with
false and fraudulent deeds of trust. When mortgage payments on the loans were
not forthcoming to the Plan, he allegedly exchanged and reassigned another
lenders deeds of trust to the Richmond Plan. |
McKendree was also charged in the indictment with ten counts of
mail fraud betwen March 1994 and October 1994 in connection with the alleged
embezzlement. |
This indictment resulted from a joint investigation conducted by
the San Francisco Regional Office of the Pension and Welfare Benefits
Administration, U.S. Department of Labor and the Federal Bureau of
Investigation. The case is being prosecuted by the U.S. Attorneys Office
in the Northern District of California. |
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U.S. v. McKendree Criminal Action RC 98=00-385 MJJ |
U.S. Department of
Labor news releases are accessible on the Internet. The information in this
news release will be made available in alternate format upon request (large
print, Braille, audio tape or disc) from the Central Office for Assistive
Services and Technology. Please specify which news release when placing your
request. Call 202.693.7773 or TTY 202.693.7755. |
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