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The case revolves around Bridgeport Manor, which was shuttered in 2018, and Bridgeport Health Care Center, which was ordered closed this past January after efforts at finding a new owner failed.
Chaim Stern, the nursing home’s former operator, has pleaded guilty in federal court to embezzlement and tax offenses; he was also chief financial officer of Bridgeport Manor, which closed in 2018 after it was revealed he had diverted $4 million from its employees’ retirement plan to himself and a religious charity he controlled.
Bridgeport Manor has lost approximately $21 million over the last four years.
Improperly diverting nursing home retirement plan assets is at the center of the lawsuit.