1340 AM, Saturday, November 21st, 2009
Columbus Businessman Sentenced To 16 Months For Stealing From IRA Funds
Last updated on Friday, April 17, 2009
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(INDIANAPOLIS) - 52-year-old John L. Brubaker of Columbus was sentenced to 16 months in federal prison Thursday after pleading guilty to theft from his employees’ retirement benefit plan.
A two-year federal investigation showed Brubaker withheld about $48,000 in IRA retirement plan contributions from 12 employees of his business in Columbus. But instead of moving the money to an IRA investment firm, he kept it in the company's bank accounts.
In addition to his prison sentence, Brubaker was ordered to pay $48,000 in restitution to his victims.
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