PA to Longaberger CEO must repay £60K from retirement funds

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The former PA to Tami Longaberger, heiress to her family’s US-based basket-making company, has been ordered to repay around £60,300 held in retirement accounts toward the £4.2 million he owes after being convicted of embezzling and stealing from her.

Douglas Thompson has been ordered by a Muskingum County Common Pleas Court in Ohio to hand over the money from his retirement funds. Thompson appealed, arguing he was entitled to keep a portion of the money to pay income taxes and fees he owed the government. The Fifth District Court of Appeals affirmed the original decision and Thompson now has to pay the money.

Thompson worked for Longaberger from 2004 to 2011 while she was the CEO of Longaberger Co, a basket-making company founded by her father. She resigned in 2015.

Thompson pleaded guilty to grand theft for taking nearly £1.3 million from Longaberger and was sentenced to six years in prison and order to pay £1.2 million in restitution. He also entered into an agreement that Longaberger could pursue more money through a civil action.

At the time of sentencing, Thompson had only paid £280,000 after selling a house and auctioning his personal assets. The decision was later made to include his retirement accounts in assets that could be used to pay Longaberger.

 

Read the original article at on.wkyc.com/1koIow1

 

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    Molly Dyson

    Former Editor – PA Life

    All stories by: Molly Dyson