Man Sentenced for Stealing from Employees' 401(k) - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Man Sentenced for Stealing from Employees' 401(k)

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WILMINGTON, Del. (AP) - A former part owner of a real estate company who pleaded guilty to stealing more than $600,000 from his employees' 401(k) accounts has been sentenced to two years in prison.

Michael A. Stortini was also ordered to pay restitution at sentencing Monday in federal court in Wilmington.

Stortini was managing member and part owner of the Frank Robino Cos. Prosecutors say in 2009, the company went through difficult financial times and Stortini misappropriated funds from the employees' retirement plan to pay operating expenses.

Authorities say Stortini also embezzled money for himself, and spent $500,000 at casinos.

 

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