Matthew Hutcheson, an Idaho independent fiduciary who advises companies on retirement plans and has testified before Congress, pleaded not guilty to charges that he took more than $2 million from a fund he oversaw and spent it on himself and his family.

Hutcheson, 41, used the money to remodel his house in Eagle, Idaho, build a 4,100-square-foot barn, a swimming pool, a hot tub and a dog house, according to an indictment filed in federal court in Boise on April 10. He also bought a BMW convertible and a Land Rover.

Hutcheson, indicted on 31 counts of wire fraud and theft, entered a not guilty plea Thursday. Before his arrest, he was a critic of 401(k) managers and trustees who don't act in the best interests of their clients.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.