DOL Wants Benefit Contractor Held in Contempt for Failure to Pay

The US Labor Department wants a federal judge to hold a government contracting benefits administrator in contempt for failing to pay $3.8 million as part of a fiduciary breach settlement.

Regulators say Axim Fringe Solutions Group LLC’s owner and director of compliance accounting failed to distribute restitution funds into an interest-bearing account within the 60 days US District Court for the District of Maryland Judge Peter J. Messitte ordered in May.

The DOL claims the pair misused funds from fringe benefit plans. Their company marketed itself as a net-zero plan provider by deducting its own fees from clients’ fringe ...