The Sconi

The Wisconsin Department of Justice has announced the sentencing of Shone M. Bagley, a 54-year-old resident of Hartford, Wisconsin. Bagley received a sentence of three years of initial confinement followed by five years of extended supervision for stealing 401(k) funds from his employees. The court mandated full restitution to the victims and imposed several conditions on Bagley's supervision post-release. These conditions include maintaining full-time employment, filing all tax returns, disclosing bank accounts, undergoing a mental health evaluation, completing community service, avoiding contact with victims, and refraining from roles involving financial trusteeship.

A Waukesha County jury found Bagley guilty in December 2024 of Theft by Virtue of Office, Business, or as Trustee. Attorney General Josh Kaul commented on the case: "The defendant in this case abused his authority and stole employees’ retirement savings. Thank you to the team that secured the conviction and sentence that hold the defendant accountable for his actions."

The criminal complaint detailed how Bagley misappropriated over $54,000 from employees' 401(k) funds at Caring Hearts, an in-home nursing care company based in Monroe, Wisconsin. After acquiring Caring Hearts in April 2018, he established a separate business entity to which he transferred $54,861.77 from the employees' retirement funds. He then used these funds for personal expenses at coffee shops and restaurants as well as business expenses like employee payroll.

The investigation was conducted by the Wisconsin Department of Justice Division of Criminal Investigation alongside the Wisconsin Department of Financial Institutions. Assistant Attorneys General Lucas Bennewitz and Kari Hoffman prosecuted the case.