Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
January 05, 2006
Employer Sentenced for Embezzlement

A Canton employer was recently sentenced to a term of probation, home confinement, and community service for embezzling over $35,000 from the pension plan of a defunct company he formerly operated.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

William J. Svatos was president and principal owner of Graphic Planet, Ltd., which was in business from approximately March 2000 through September 2002 in Carrollton, Ohio. The company experienced serious financial problems starting around December 2001. During December 2001 through September 2002, Svatos embezzled approximately $35,327 of the assets of the company's 401(k) Profit Sharing Plan by using plan contributions for Graphic Planet's business operations. This was a violation of his fiduciary duty as plan trustee and custodian.

In addition to the probation, home confinement, and community service, Svatos was also fined $2,000 and ordered to make full restitution of the embezzled funds to the victimized plan participants.

Featured Free Resource:
Cost Per Hire Calculator
Twitter  Facebook  Linked In
Follow Us
Copyright © 2018 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on
Document URL: