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Wisconsin Business Owner Sentenced for Stealing Employees’ 401(k) Funds for Personal Use
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Wisconsin Business Owner Sentenced for Stealing Employees’ 401(k) Funds for Personal Use

A man in eastern Wisconsin received a prison sentence for misappropriating funds from a 401(k) for his own personal expenses.

The Wisconsin Department of Justice has announced that Shone Bagley, aged 54, received a sentence of three years of initial confinement followed by five years of extended supervision. He faced allegations of misappropriating his worker’s retirement savings.

Bagley has been instructed to provide complete restitution to the victims, along with additional stipulations. A jury reached a verdict in December 2024, determining Bagley’s guilt.

A man faces allegations of misappropriating more than $54,000 from the retirement savings of employees at a nursing care firm located in Monroe, Wisconsin. Authorities report that Bagley used the funds for personal expenditures.

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