exterior facade of Dept of Labor building (Photo: Mike Scarcella/ALM Media)

The Department of Labor has concluded a longstanding case against a disbarred attorney and former benefits plan fiduciary who gained personally by diverting millions from employee benefit plans.

The department’s Employee Benefits Security Administration Philadelphia Regional Office began an investigation of John J. Koresko, of Bridgeport, the Regional Employers Assurance Leagues Voluntary Employees’ Beneficiary Association Trust and other affiliated companies in 2003. The agency found that Koresko and others had diverted tens of millions in plan assets for their personal benefit through a variety of illegal transactions. Koresko and associates pocketed the money and used it to purchase personal property on the Caribbean island of Nevis and in South Carolina, boat rentals and other improper personal uses.

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