Andrew Breitbart at Big Journalism reported yesterday on the theft of $42 million of Laborers International Union of North American (LIUNA) funds by Melissa King. LIUNA Local 147 is a 100-year old union, traditionally Irish, that represents the men who dig New York City's subway, water, and sewer tunnels. They are known as the "Sandhogs." Ms. King was paid $540,000 a year to handle all administration functions of their benefit fund. She has held that job since 1980.
According to the article:
"Starting in 2002, prosecutors charge, King illegally transferred about $42 million from three union accounts covering pensions, vacation pay and other benefits to accounts she personally controlled. A large portion of it, to put it lightly, was unrelated to union business. Of the alleged thefts, $7.2 million went to pay off American Express bills, more than $3 million to equestrian businesses (apparently she was grooming her daughter for an equestrian career), and $713,500 to a jewelry business. The criminal complaint states she also transferred $500,000 to an E*Trade Securities account without union authorization."
The actions of Ms. King will impact the Sandhogs retirement benefits. The union members work hard and are paid well. It's dangerous work, and they are well paid in retirement as well.
The fact that this women stole $42 million dollars of their retirement benefits should be news. How much of this story have you heard in the 'mainstream' media? It seems to me that $ 42 million is a significant amount. Shouldn't someone have mentioned this?
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