The owner of a Cincinnati steel contracting firm has been sentenced to prison by a federal judge on the grounds of theft and fraud.
"(Ron Craig) Estes offered his employees a tangible benefit, and willfully stole retirement earnings from employees he knew were most likely not going to report the fraud or exercise their legal rights," said Employee Benefits Security Administration Regional Director Joe Rivers in Cincinnati.
On Dec. 14, a Cincinnati federal judge ordered 18 months in prison for Ron Craig Estes, a businessman who self-declared guilty to one count of theft or embezzlement from an employee benefit plan and one count of mail fraud.
"He further compromised the safety of his employees and others on a Cincinnati commercial development by falsifying documents. The U.S. Department of Labor is a guardian of worker's rights and will continue to pursue employers who violate the law," Rivers said.
Estes will forfeit $25,000 to the government and serve three years of supervised release following his sentence.
Part of Estes's crime was forging signatures to obtain 401(k) money for his personal benefit.
