The former president of a Little Rock, Ark.-based insurance company was sentenced in July to one year and one day in prison for embezzlement.
John Mathis “Matt” Lile, III, of Little Rock, the former president of Cosmopolitan Life Insurance Co., pleaded guilty in September 2014 to embezzling more than $100,000 from the company.
The case was investigated and prosecuted by the United States Attorney for the Eastern District of Arkansas, the Federal Bureau of Investigation and the United States Department of Labor, Employee Benefits Security Administration.
The now defunct Cosmopolitan Life funded and managed self-insurance healthcare plans for small businesses around Arkansas.
Lile also must pay $118,500 in restitution to Cosmopolitan, which is in receivership with Arkansas Insurance Department, and serve three years of supervised release at the end of his prison term.
Topics Carriers
Was this article valuable?
Here are more articles you may enjoy.
Florida Regulators Crack the Whip on Auto Warranty Firm, Fake Certificates of Insurance 
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
Fla. Commissioner Offers Major Changes to Citizens’ Commercial Clearinghouse Plan 
Jury Finds Johnson & Johnson Liable for Cancer in Latest Talc Trial From This Issue
