Arizona TPA CEO Pleads Guilty to Embezzling More Than $8M From ERISA Plans

The Department of Justice announced that the CEO of an Arizona-based company pleaded guilty on Tuesday to embezzling more than $8 million from an Employee Retirement Income Security Act benefit plan.

The case, USA v. James Vincent Campbell, originated in U.S. District Court for the District of Maryland in July 2025.

James Vincent Campbell, the founder and CEO of Azim Fringe Solutions, a third-party administrator that processes benefits for employees of federal contractors, was charged in the District of Maryland with a single count of theft from an ERISA plan. At the time the theft began, in 2015, the company was headquartered in Maryland. In 2022, Campbell relocated Axim to Scottsdale, Arizona, where he continued his fraud until 2024.

“Private pensions make up a large portion of Americans’ wealth,” said Daniel Aronowitz, head of the Department of Labor’s Employee Benefits Security Administration, in a statement. “[EBSA] will continue to pursue those who try to steal pension assets as part of its efforts to prevent and fight fraud committed on both pension and healthcare plans.”

According to court documents, Axim’s clients—mostly federal contractors—sent funds to pay employees’ health insurance premiums and 401(k) contributions. Axim was responsible for forwarding those funds to insurance carriers and retirement accounts. Before forwarding the funds, according to case documents, Campbell pooled them in a master trust.

From 2015 to 2024, Campbell made 135 unauthorized withdrawals from the trust, totaling $2,486,905 beyond the legitimate fees owed to Axim. Campbell used a significant portion of the stolen funds for personal expenses, including casino gambling, direct payments to his girlfriend, hunting trips, jewelry and taxidermy fees. While in Arizona, he is alleged to have secretly charged clients up to five times the correct amount of fees they owed to Axim.

Campbell faces a maximum sentence of five years in prison. He is scheduled to be sentenced on January 28, 2027.

Campbell is represented by Taft Stettinius & Hollister LLP, which declined to comment while the litigation is pending. The DOJ referred PLANSPONSOR to statements in the agency’s announcement about Campbell’s plea.