Legal Question in Business Law in New Jersey

Recently I found out my company has stopped sending in checks to our 401k accounts. They deduct the money, but for over a year there hasn't been a single deposit into anybodys account. I confronted my bosses and got a story about they weren't sure if they could meet there monthly bills so they haven't sent the checks in. During this time I have paid about 5000 dollars into this account with nothing to show for it. My question is , is this legal what they have done and can i get my money back with the interest it should have gotten during this time? The return on my account was 22% for this year.
Thank you

Asked on 1/10/10, 6:18 pm

2 Answers from Attorneys

John Corbett Corbett Law Firm LLC

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That is what we call a theft offense. Specifically, in NJ it would be a violation of N.J.S.A. 2C:20-9, Theft by Failure to Make Required Disposition of Property. It is also the actionable civil offense of wrongful conversion. That said, you did not give me enough information to form an opinion on the best way to proceed so as to have the best chance to get your money. If you want to discuss that issue, please call or email.

See also: http://info.corbettlaw.net/lawguru.htm

Answered on 1/15/10, 9:18 pm

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