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Fiduciary Pleads Not Guilty to Fraud

Retirement adviser Hutcheson accused of taking more than $2 mln from pension fund.

By Anthony Effinger and Karen Gullo | Updated on April 15, 2012

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.

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