An independent fiduciary has been appointed by the federal courts to oversee the 401(k) plans of the Community Home Mortgage Corp., a Melville-based lender that was shut down in 2002 by the New York State Banking Department after federal authorities began investigating it for fraud.

Thomas Forese Jr., president and chief executive of Global Trust Co. and its parent company Northeast Retirement Services, will administer the plan and distribute assets, then terminate the plan, according to the U.S. Department of Labor.

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The labor department got the order from the U.S. District Court, based in Brooklyn and Central Islip, after arguing that the lender’s former president and chief executive had abandoned his financial responsibilities. Former employees were unable to get their funds, labor officials said.

In September 2002, agents from the FBI and the U.S. Department of Housing and Urban Development raided Community Home Mortgage’s offices. The company was licensed in 30 states and did about $150 million annually in first and second mortgages. It was under investigation on several counts, including alleged fraud in processing HUD loans.