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Nedrow Woman Swindles $37,000 from Pension Fund
A 55-year-old woman from Nedrow has pleaded guilty to swindling over $37,000 from a pension fund meant for her deceased mother.
Lorraine Lorini, of Nedrow, New York, admitted to applying for and receiving pension benefits from the Pension Benefit Guaranty Corporation (PBGC) on behalf of her mother, who passed away. Lorini collected the benefits and kept the money for herself, according to court documents.
Lorini will face up to ten years in prison and a fine of up to $250,000 for her crime. However, under the United States Sentencing Guidelines, her actual sentence may be less.
As part of her plea deal, Lorini has agreed to make full restitution to the PBGC. The Office of Inspector General for PBGC investigated the case, and it is being prosecuted by Assistant United States Attorney Michael F. Perry.
Lorini’s guilty plea brings to light a shocking case of pension fund theft. The PBGC is an independent agency of the United States, and its pension benefits are meant to provide financial security for workers and their families.
The case serves as a reminder of the importance of accountability and transparency in government programs. Lorini’s actions have caused financial hardship for the PBGC and its beneficiaries, and she will face the consequences of her actions in a court of law.
Lorini is scheduled to be sentenced in June and will have to face the consequences of her actions. The Grimy Times will continue to follow this story and provide updates as more information becomes available.
Key Facts
- State: New York
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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