Missing 401k's Land Jonesboro Businessman Behind Bars - KAIT Jonesboro, AR - Region 8 News, weather, sports

Jonesboro, AR - Will Carter Reports

Missing 401k's Land Jonesboro Businessman Behind Bars

"I was very angry. That was a lot of money. $9,000 to $10,000 out of my pocket was a lot."

Chris Witcher is just one of several former employees of Overhead Door of Northeast Arkansas who came up short.

"We didn't know about it until all of this went down, but the money that was being held out of our paychecks was not actually being deposited into the 401-k program."

That's because former owner,Jerry Orr, was using the money for other things.

"I was the business manager there. I noticed there were some irregularities in the checks that were coming in and where they should go," said Witcher. 

It wasn't  long until those irregularities led to a FBI investigation of Orr and his finances.

On May 1, 2007, Jerry Orr was sentenced to seven and a half years in prison after a federal judge found him guilty of aiding and abetting bank fraud.

However, for former employees of Orr, the judgement came a little too late.

"I have to say I learned a lot, and you just mark it up to experience," said Witcher.

Orr was ordered to pay restitution of nearly $120,000 to the Great Southern Bank of Missouri and over $42,000 to former employees.

As far as Overhead Door of Northeast Arkansas, they have reopened under new ownership and management.

Story ideas or comments?  Email Will at wcarter@kait8.com.

 

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