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From PennLive
WILLIAMSPORT A former securities broker in Tennessee has admitted emailing false and forged documents as part of a scheme that misappropriated $5.7 million from the pension plan of a Centre County business.
John Sherman Jumper, 55, of Memphis, pleaded guilty Friday in U.S. Middle District Court to a charge of wire fraud.
The government has set the loss from the scheme at $2.7 million because the pension plan for hourly workers at Snow Shoe Refractories of Clarence was repaid $3 million.
The charge to which Jumper pleaded guilty involved an email he sent to the pension plan’s unidentified actuary in Harrisburg that contained false and fraudulent information.
Ex-securities broker admits misappropriating $5.7 million from a Pa. firm’s pension plan
Updated Apr 09, 4:46 PM;
Posted Apr 09, 4:46 PM
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John Sherman Jumper, 55, of Memphis, pleaded guilty Friday in U.S. Middle District Court to a charge of wire fraud.
The government has set the loss from the scheme at $2.7 million because the pension plan for hourly workers at Snow Shoe Refractories of Clarence was repaid $3 million.
The charge to which Jumper pleaded guilty involved an email he sent to the pension plan’s unidentified actuary in Harrisburg that contained false and fraudulent information.
He admitted falsely representing himself as a vice president of the refractory business that manufactures and sells fireclay and high alumina refractory brick and related products.