Rhonda Sue Irvin Cox, owner of Ohio-based Irvin Administrative Solutions, faces up to 10 years in prison plus fines and restitution for embezzling more than $1 million from 12 different retirement plans located in seven states, including Pennsylvania.
The company served as a third-party administrator for employee retirement plans covered under the Employee Retirement Income Security Act (ERISA).
Cox pleaded guilty to one count of embezzlement and one count of making false statements in required ERISA documents. The maximum sentence for each count is five years in prison, plus a $250,000 fine and a special assessment.
The U.S. Department of Labor’sSecurity Administration spearheaded the investigation.