A court mandated the former CEO of a Nevada company and others to restore over $4.775 million, including interest, to two pension plans. This “pay day” was ordered after the court determined they breached their fiduciary duties under the Employee Retirement Income Security Act (ERISA) and engaged in prohibited transactions when they borrowed money from the plans to support the company operations and fund a $150 million casino project. (
Chao v. USA Mining GAO Inc., E.D. Tenn., No. 1-04-CV-001,
order 3/20/07).