For taking money from a 401(k) plan and using it for his own personal expenses, a man in eastern Wisconsin was sentenced to prison without the possibility of parole.
A sentence of three years of initial incarceration followed by five years of extended supervision was handed down to Shone Bagley, who is 54 years old, according to an announcement made by the Wisconsin Department of Justice. Allegations were made against him that he had stolen the retirement savings account of his employees.
In addition to the extra requirements, Bagley has been given the directive to grant the victims with full restitution. In the month of December 2024, a jury deliberated and came to a decision that Bagley was guilty.
An individual is being accused of stealing more than $54,000 from the retirement funds of workers at a nursing care company in Monroe, Wisconsin. The claims have been made against the individual. The cash were reportedly used by Bagley for his own personal expenses, according to the authorities.