Former Broker-Dealer John Jumper Indicted on Federal Charges of Embezzling From Pension Fund

John Jumper, a former Memphis, Tennessee-based broker-dealer has been indicted on federal charges of embezzling $5.7 million from a Pennsylvania company’s employee pension fund. Federal prosecutors in Williamsport, Pennsylvania and securities regulators in Atlanta jointly issued news releases announcing charges against him. The criminal indictment in the state accuses John Jumper of forging signatures on fraudulent documents to transfer money out of the pension fund. It alleges he used the money to make unauthorized loans and to pay off $1.2 million in personal loans and legal expenses. Allegedly, John Jumper stole from the Snow Shoe Refractories Employee Pension Plan for Hourly Employees, which included about 129 active and retired employees of a maker of fire brick, Snow Shoe Refractories. John Jumper was indicted on four counts of wire fraud, three counts of embezzlement from an employee pension benefit plan and five counts of false statements and concealment of facts…

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