polo ralph lauren coupons Rocky River executive charged with embezzling from employee retirement plan
C. David Snyder, the former chairman, president and CEO of Attevo Inc., was charged Wednesday, Dec. Attorney Justin E. Herdman.
The release, citing the indictment, said Snyder withheld payroll tax from employees of the defunct information technology firm but failed to pay it to the IRS. Snyder failed to pay over approximately $328,
355 of employee’s portion of payroll taxes in 2010 and approximately $530,778 in 2012.
The financial mishandling began after Snyder created retirement plans for Attevo employees in 2009. The plan was funded through employee payroll deferrals.
Crain’s reported in 2014 that, following a federal investigation, a judge ordered Snyder to return $143,000 to an Attevo retirement plan. The money had been removed from employee paychecks but never showed up in the defunct company’s retirement plan, the court ruled.
“This defendant embezzled money from an employee retirement account and did not pay to the IRS money he withheld from his employees’ paychecks, all while living a lavish lifestyle,
” Herdman said in the release.