make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

NC textile firm sued over $145,000 in compensation


LINCOLNTON, NC (AP) -- The U.S. Department of Labor is suing a
closed Lincolnton textile company, asking it to pay back nearly
$145,000 into its deferred compensation plan.

Federal officials say Belding Hausman Inc. took $59,230 in
employee contributions and $72,703 in loan repayments that were
supposed to go into the plan and put them in the company's general
asset accounts instead.

The repayment amount also included more than $12,500 in
estimated lost earnings because the money was not put where it was
supposed to go.

Belding Hausman has not officially filed a response to the
government's accusations.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.



The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
Please re-enter the code shown in the image below.