Federal court requires R.B. Pamplin Corp., owner to restore at least $20.6M in assets to pension plan, unwind $15.4M in illegal real estate investments

"On January 15, 2025, the US Department of Labor issued an update regarding Federal court requires R.B. Pamplin Corp., owner to restore at least $20.6M in assets to pension plan, unwind $15.4M in illegal real estate investments. The consent judgment also permanently bars Dr. Robert B. Pamplin Jr. from serving as a fiduciary of any ERISA-covered employee benefit plan and requires him to pay a civil penalty equal to 20% of the recovery amount."