Pensions Can Be Used To Pay Crime Victims: Court

Law360, New York (February 23, 2007, 12:00 AM EST) -- In a case involving a former Nestle Food Co. employee who stole around $3.3 million in equipment from the company, an appeals court has ruled that the government has the power to take money out of a defendant’s retirement fund to cover the cost of reimbursing the victim for the crime done.

The case, decided by a 10 to 5 majority, looked at whether the benefits provided under the Employee Retirement Income Security Act are included in the Mandatory Victims Restitution Act of 1996.

The Victims...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.