2nd Circuit Panel Upholds 401(k) Garnishment For Shkreli Co-Conspirator

Mealey's (August 26, 2022, 12:03 PM EDT) -- NEW YORK — The Mandatory Victims Restitution Act (MVRA) authorizes garnishment of the 401(k) funds of a man convicted of conspiring with Martin Shkreli, and the Consumer Credit Protection Act (CCPA) 25% cap on garnishment does not apply, a Second Circuit U.S. Court of Appeals panel ruled Aug. 24, vacating and remanding a trial court’s ruling for a determination on “whether the ten-percent early withdrawal tax will be imposed upon garnishment.”...