TBA Law Blog

Posted by: Katharine Heriges on Apr 23, 2018
A Memphis-area securities broker-dealer has been indicted on federal charges of embezzling $5.7 million from a Pennsylvania company’s employee pension fund, The Commercial Appeal reports. John Sherman Jumper, the Eads resident listed as CEO of Alluvion Securities, was accused by federal authorities of stealing from the Snow Shoe Refractories Employee Pension Plan for Hourly Employees, which included about 129 active and retired employees of a Pennsylvania company. He was indicted on four counts of wire fraud, three counts of embezzlement from an employee pension benefit plan and five counts of false statements and concealment of fact in pension benefit plan records.