So in a nutshell, I was working for a steel processing facility in OH (privately owned) and the owner had us pull our money out of a real 401K so that “his guy” could make us more money. He didn't give us a choice and actually made us come in on a Saturday (unpaid) to handle it.
Over a year later we found out the company was bankrupt, our paychecks bounced and our 401k's were never invested. He had had “his guy” put the contributions in a private account and send us fake quarterly statements.
The secretary was doing some light accounting when she found the account and called the feds who sent people to take our payroll records, etc.
The County prosecutor told him he didn't want to waste time and money prosecuting him and let him return the money plus a 6% interest for the time he had it.
He lost the company (bank foreclosure) a month later and without telling us quietly left the state. We found out the place was finished when we came in for our morning shift one day and there was a chain lock on the gate.
So why didn't this asshole go to jail?