Reno Businessman Convicted of Stealing from Pension Plan
Reno, Nev. – The owner of a Reno-based technology firm, Lodging and Gaming System, Inc., was convicted by a federal jury on Friday, June 20, 2008, of embezzling approximately $128,000 from the company's 401(k) retirement plan, announced Gregory A. Brower, United States Attorney for the District of Nevada.
"As administrator of the company's retirement plan, Mr. Urie had a duty to deposit the employee contributions to the plan into a trust account," said U.S. Attorney Brower. "Instead, the jury found that Mr. Urie unlawfully and willfully embezzled and converted the monies to his own use."
Steven H. Urie, 64, of Reno, was convicted of one count of Theft From Employee Benefit Plan following a four-day trial before U.S. District Judge Edward Reed. He was indicted in February 2006. He is free on a personal recognizance bond and is scheduled to be sentenced on October 6, 2008. He faces up to five years in prison and a $250,000 fine.
This case is being investigated by the U.S. Department of Labor and prosecuted by Assistant United States Attorneys Bill Reed and Ron Rachow.