Matthew Hutcheson, famed 401(k) fiduciary expert, was convicted at trial of federal wire fraud charges in April, 2013. Many believe, and evidence strongly suggests, that Hutcheson's federal charges were brought about as a direct result of his whistleblowing activities regarding a "skim machine" at the Department of Labor (DOL). Previous articles examined in depth Hutcheson's whistleblowing and subsequent retributive prosecution at the hands of Obama's Department of Justice (DOJ).
Hutcheson's prosecution is just one example of the administration's merciless war on whistleblowers. It is unfortunately part of a wider pattern of extreme measures being directed by Attorney General Eric Holder against whistleblowers and others deemed to be enemies of the Obama White House. Hutcheson recently agreed to be interviewed in an effort to fully explain the events surrounding his whistleblowing and subsequent prosecution.
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Matthew Hutcheson was a renowned 401(k) expert prior to his whistleblowing and ensuing federal conviction
Q. You have been referred to as a "famed" 401(k) fiduciary advocate, yet found yourself facing serious federal charges after calling attention to wrongdoing at the Department of Labor. What evidence do you have that your prosecution was related to your whistleblowing?
A. In 2007 I was asked to testify before Congress about the economics of 401(k) and pension plan investments. A few months later, an investigative reporter from Bloomberg Television contacted me about participating in the creation of a documentary. The documentary would cover my research and testimony before Congress, along with the stories of real people impacted by Wall Street's skimming machine. The finished documentary, which won an Emmy for award winning investigative television, can be watched here:
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A reporter from Bloomberg Television first alerted Hutcheson that he was being targeted by elements within the Department of Labor
He also conveyed the previously unthinkable, that the Department of Labor was resisting Congress' full transparency initiative due to its loyalty to Wall Street. He further conveyed that he suspected that the 401(k) industry was more closely "associated" with the Department of Labor than was appropriate. At the time, I could not contemplate what that might mean.
I later learned that the Department of Labor was complicit in a scam that permitted certain lobbying groups to skim (steal) money from pension plans and use that money to buy influence with the Department of Labor. It becomes clear why the Department of Labor was engaged in a "whisper campaign" against me a year ago; I was threatening future private sector opportunities for Labor's leadership. That is the scandal I blew the whistle on.