Warren man sentenced for theft of government funds

A Warren man was sentenced to six months of house arrested and ordered to repay $82,428 to the Pension Benefit Guaranty Corporation.

Dean Nikolaides, 64, was also fined $5,000 and placed on probation for three year. He previously pleaded guilty to one count of theft of government funds.

Nikolaides fraudulently received $82,428 in benefits over 14 years from the Pension Benefit Guaranty Corporation to which he knew he was not entitled. The PBGC is a federal agency that protects the retirement incomes of American workers in private-sector defined benefit pension plans, according to court documents.

Special Agents Adelle Harris and Conrad Quarles from the PBGC conducted the investigation, with assistance from the Social Security Administration Office of the Inspector General and the United States Postal Inspection Service. Special Assistant U.S. Attorney Payum Doroodian prosecuted the case.