US - Former Airtrans CEO Freddie Ford has been sentenced to 15 months in prison after being convicted of theft from 401(k) plans.
Lawrence J. Laurenzi, acting US attorney for the Western District of Tennessee, said: "Mr Ford has been sentenced to 15 months in federal prison, without the possibility for parole, for taking money from those who were working hard and planning for their own retirement."
"The investigation and prosecution of white collar crimes is one of the priorities of the United States Attorney's Office for the Western District of Tennessee."
Rebecca Marshall, regional director of the Atlanta Office of the Employee Benefits Security Administration, said: "Theft of employee benefit assets jeopardises the benefits of workers.
"This case reaffirms our commitment to protection of workers' benefits by identifying criminal activity wherever and whenever it occurs."
This week's edition of Professional Pensions is out now.
Ben Gunnee reflects on 2018 and talks about the Fiduciary Management trends to keep an eye on in 2019
Lloyds Banking Group secured 630,000 new pension customers last year, according to its 2018 annual results.
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.