Beavercreek Business Owner Charged with Embezzling $95,550 from Employee Retirement Savings Plan

PORTLAND, Ore. – Charles W. Buller, 63, of Beavercreek, Oregon, has been charged by federal indictment with embezzling $95,550 from an employee retirement savings plan he controlled.  The indictment alleges that Buller was the President and sole owner of Park Place Wood Products, Inc., based in Oregon City, Oregon.  Park Place made high-end cabinetry for homes and businesses and in a typical year employed between 10 and 20 people.

Park Place maintained a retirement savings benefit plan for its employees and from July 2011 to December 2012, Buller, as the sole trustee of the plan, allegedly drew eight checks totaling $95,550 on the retirement plan account and converted the money to his own use.

“Employees of small businesses contribute to retirement plans relying on the money being there when they retire, and business owners have a special responsibility to maintain those plans solely for the benefit of their employees” said U.S. Attorney Billy J.  Williams.  “This office, in partnership with the Department of Labor, will vigorously investigate and prosecute business owners who take money out of their employees’ pockets in this manner.”

This case was investigated by the U. S. Department of Labor, Employee Benefits Security Administration.  The case is being handled by Assistant U. S. Attorney Seth D. Uram.

You can download the Indictment attached below.