ALEXANDRIA, Va. (WUSA) -- Two Maryland men pleaded guilty to a scheme to steal more than $9 Million from a pension plan, officials said.
Robert Fulton Rood IV, 45, of Potomac, Md., and Nikolaos M. Hepler, 32, of Gaithersburg, Md., admitted to doctoring loan documents and paid themselves instead of the Southern Management Corporation Retirement Trust (SMCRT), a pension plan established by Southern Management Corporation (SMC) for its employees, officials said in a news release.
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"When SMCRT raised questions about certain transactions, Rood directed co-conspirators Hepler and Lloyd Mallory, Jr., a certified public accountant, to create a false report regarding loan files intended to mislead SMCRT about the true status of their investment. The government asserts that SMCRT suffered a loss of $9,574,853 as a result of the conspiracy," officials said in a news release.
Rood and Hepler were charged on Dec. 13, 2011, by a federal grand jury in a 16-count indictment of conspiracy to commit wire fraud, wire fraud, and theft from an employee benefit plan, officials said.
Rood faces up to 20 years in prison. Hepler faces up to five years.