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Manager Embezzles Employee Pension

Published on February 2nd, 2020

The former operator of Connecticut nursing homes pleaded guilty to embezzlement and tax offenses in federal court. Chaim Stern waived his right to be indicted in Bridgeport federal court, the Connecticut Post reported.

The charges against him developed during his time as the operator of Bridgeport Health Care Center and of Bridgeport Manor, according to a news release from U.S. Attorney for Connecticut John Durham.

He is accused of stealing around $4.1 million from the pension plans of one of the nursing homes from 2011 to 2018. Stern is accused of diverting the money to a purported charity called Em Kol Chai, which he controlled.

He is also accused of diverting more than $300,000 intended to be used to pay employee health claims and using it for other purposes, including his own personal use.

The total tax loss from his actions was $4,356,409.85, the news release said.

 

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