Nursing home owner accused of mishandling retirement assets

The federal Department of Labor alleges that the owner has taken out almost $4 million in the last few years, including $2.5 million in just a nine-month period.

The federal Department of Labor alleges that the owner has taken out almost $4 million in the last few years, including $2.5 million in just a nine-month period. (9/22/16)

BRIDGEPORT - Federal investigators allege that the owner of the Bridgeport Health Care facility improperly took millions out of his employees' retirement accounts.

The federal Department of Labor alleges that Chaim Stern has taken out at least $3.5 million since 2011, including $2.5 million in just a nine-month period.

The department claims he used workers' retirement money as a virtual piggybank.

The complaint states that some of the money went into keeping the facility operating, but most of it went to a religious group Stern runs.

advertisement | advertise on News 12

Trending Video

News 12 speaks with residents about what they 1 Westchester Talks Trump: Tax plan
VIDEO: Interview with former Suffolk County Executive Steve 2 VIDEO: Interview with former Suffolk County Executive Steve Levy
3 Connecticut Sportscast, April 27
Bridgeport Mayor Joe Ganim apparently has his sights 4 Bridgeport mayor to announce committee for gubernatorial run
Milford police have arrested a woman that they 5 Police: Woman set up man to be robbed at Milford hotel

advertisement | advertise on News 12

More News

Retired Bridgeport Manor workers say they haven't been Bridgeport Manor faces pension allegations

Retired Bridgeport Manor workers say they haven't been able to collect their pensions.

Workers at a Bridgeport nursing home held a Employees: Nursing home isn't paying on time

Workers at a Bridgeport nursing home held a protest Sunday morning, saying their paychecks are

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE