Janesville Man Sentenced For Pension Plan Conversion
Madison, Wis. - John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that David R. Biggerstaff, 56, Janesville, Wis., was sentenced last week by U.S. District Judge Barbara B. Crabb to six months in federal prison, followed by three years supervised release, for conversion of monies in an employee pension plan. Biggerstaff was also ordered to pay $25,194.28 in restitution to the U.S. Clerk of Court for disbursement to the victims. Biggerstaff pleaded guilty to this charge on January 10, 2013.
From October 2007 through January 2009, the defendant stole approximately
$25,000 from the Premier Vending, Inc. 401(k) Plan, formerly known as the Owen Vending, Inc. 401(k) Plan, by withholding employee contributions to the plan and failing to make payments to the plan on behalf of those employees. At the time of the alleged offense, Biggerstaff was the president of Premier Vending, Inc., in Janesville, and was the trustee for the company's pension plan.
The charges against Biggerstaff were the result of an investigation conducted by the Chicago regional office of the U.S. Department of Labor, Employee Benefits Security Administration. The prosecution of the case has been handled by Assistant U.S. Attorney Peter M. Jarosz .