Carpenters union official accused of stealing $1.5M from pension funds

A former union official was indicted by a federal grand jury Friday on charges that he stole $1.5 million from the benefit funds of carpenters in New Jersey and New York. George Laufenberg, 69, faces several counts of embezzlement and other charges for allegedly paying himself a $120,000 pension and $180,000 in annual deferred compensation without retiring or getting approval from the fund’s trustees, the U.S. Attorney’s Office in New Jersey announced. Laufenberg formerly served

source https://therealdeal.com/2019/09/27/carpenters-union-official-accused-of-stealing-1-5m-from-pension-funds/