Jury Convicts Matthew Hutcheson of Wire Fraud

The Associated Press is reporting that a federal jury has convicted fiduciary flag-bearer Matthew Hutcheson on 17 counts of wire fraud.

According to the report, it only took the jury several hours Monday before finding Hutcheson guilty on all counts.

Federal prosecutors say Hutcheson, a retirement account trustee, took $2 million from one retirement fund he oversaw to buy luxury cars and remodel his home, and more than $3 million from another retirement account to purchase the mortgage on a Tamarack Idaho golf course

"We're pleased with the jury's verdict," Assistant U.S. Attorney Ray Patricco said. "We believe justice was done and that the victims of the pension plans have been vindicated."

He faces up to 20 years in prison on each count. Sentencing is set for July 23rd.

AP Story here and additional details here.

Rick Meigs, President, 401khelpcenter.com

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