Don’t do this. A grand jury indicted the former head of a tech company after accusations he stole money meant for the company’s 401(k) plan, according to documents unsealed Thursday.
WSOC in Charlotte, North Carolina reports that Cameron Garrison is charged with theft or embezzlement from an employee benefit plan. The grand jury indictment, handed down Tuesday, said Garrison founded Garrison enterprises in 1999 and was chief executive officer of Garrison Enterprises until his termination in 2010.
“Between 2008 and 2010 Garrison ‘maintained the employee’s monies in the general assets of the corporate bank account and then spent the monies that should have been deducted for, among other things, personal expenses,’” the station reports, citing the indictment.
Those personal expenses included paying off personal credit cards and credit cards in the name of his wife. Investigators said he failed to remit $95,000 to the 401(k) plan. A court appearance for Garrison has not been scheduled.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
