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US govt suing Greenville firm over 401(k) plan

Mar 10, 2011 2:28:00 PM - thestate.com
The U.S. Labor Department is suing the owner of a Greenville accounting firm, saying it took thousands of dollars from the company's 401(k) plan.

The government said Thursday it has sued Parnell and Co. LLC in Greenville and its owner, Christopher Parnell.

The lawsuit says Parnell was a part of an investment group that received funds from the 401(k) plan, and that investment resulted in $75,000 in lost assets and earnings.

The lawsuit says Parnell and other investment group members received at least $120,000 from the group's real estate transactions, but the 401(k) plan has not gotten any proceeds.

The government wants Parnell ordered to repay losses and be barred from controlling any retirement plan. Court papers listed no attorney for Parnell and there was no number listed for him.