Knight’s Companies, a septic tank, trucking and concrete block business in sued Vantage Benefits and their principals Jeff and Wendy Richie in Federal District Court in South Carolina, The suit claims that Vantage and the Richies wrongfully transferred approximately $437,744.43 in retirement benefits from the participants of the Plan to a Vantage Benefits’ bank account.
The suit was filed in February and the date for defendants to file the answer to the charges has passed, so another default judgment is likely.
The suit claims that Vantage falsified Plan participant account statements and participant accessible website information to make it appear that participant account balances were whole and accurate. More than 85 percent of the more than $500,000 plan’s account balance is gone.
Another Vantage Case, South Carolina style