Pedernales Running Out of Legal Options for Fuelberg Restitution
Posted on Mar 22, 2011 in Litigation, Patronage Capital | Comments Off on Pedernales Running Out of Legal Options for Fuelberg Restitution
Federal law and a settlement agreement will likely prevent the Pedernales Electric Cooperative board of directors from being able to withhold pension benefits from its former general manager, Bennie Fuelberg, or pursue a lawsuit against him for that money. Fuelberg was the head of Pedernales, the nation’s largest member-owned electric utility, for more than 30 years before he was found guilty of felony theft, money laundering and misapplication of fiduciary property. Pedernales is working to exhaust all of its options to seek restitution, but so far has run into the legal barriers described in this article.
