Hayley Fowler
The Charlotte Observer
(TNS)
A 72-year-old accountant entrusted to look after a portion of the New Orleans Firefighters Pension and Relief Fund is accused of spending the investment money on gambling, home repairs and credit card payments.
Now he’s facing federal prison time.
Wayne Triche, of Baton Rouge, Louisiana, pleaded guilty on Wednesday, March 16, to wire and tax fraud charges in the Eastern District of Louisiana. Prosecutors said the charges stem from allegations that Triche embezzled money from the fund that he was supposed to invest in life insurance policies. Instead, hespent it on a slew of personal expenses over the course of eight years, prosecutors say.
Triche faces up to 23 years in prison on both charges when he’s sentenced in June.
Defense attorneys representing Triche did not immediately respond to McClatchy News’ request for comment.
The New Orleans Firefighters Pension and Relief Fund administers survival, disability, retirement and death benefits for members of the New Orleans Fire Department and their families. Firefighters pay into the fund through monthly deductions from their paychecks, and the city of New Orleans also contributes.
A board of trustees manages the fund’s investments with financial consultants.
Triche started working with the fund as a…
