The fiduciaries of a multiemployer retirement plan will have tomake $4.7 million in restitution and interest payments after afederal judge in New Jersey ruled that the funds were improperlydiverted.
James Doyle and Cynthia Holloway were identified by theDepartment of Labor as fiduciaries to the Professional IndustrialTrade Workers Union Health and Welfare Fund.
The Cherry Hill, N.J., plan will eventually be closed. At onepoint, it had as many as 2,500 participants.
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