Former Pension Plan Trustee Indicted For Embezzlement And Falsifying Annual Reports
CONCORD, N.H. – Bernard R. Mullan, 70, of Leominster, Massachusetts has been charged in United States District Court for the District of New Hampshire with embezzling over $250,000 from a New Hampshire company’s pension plan and with falsifying annual reports filed with the United States Department of Labor, announced United States Attorney John P. Kacavas.
Mullan, is charged with 25 counts of embezzling funds from the pension plan for employees of the Peterboro Tool Company, Inc., in West Peterborough, New Hampshire. The indictment alleges that Mullan was a trustee of the plan and that from October 15, 2007, through November 2, 2009, he embezzled a total of about $252,900 of the plan’s funds. Mullan is also charged with making false statements on annual reports filed for the plan with the United States Department of Labor. The reports covered the plan’s financial activity and condition for the years 2006, 2007, and 2008. The indictment alleges that in the 2006 and 2007 annual reports, Mullan falsely overstated the plan’s net assets and concealed its true value by failing to disclose that he had previously taken about $225,000 of the plan’s funds. The indictment also alleges that in the 2007 and 2008 annual reports Mullan failed to disclose that he had taken funds from the plan.
Mullan pled not guilty to the indictment and was released on personal recognizance bail. A trial date has been scheduled for November 8, 2011.
This case was investigated by the Employee Benefits Security Administration of the Department of Labor and the Office of the Inspector General for the United States Department of Labor. It is being prosecuted by Assistant United States Attorney Mark S. Zuckerman.
An indictment is merely an allegation and a defendant is presumed innocent unless and until proven guilty.