Former insurance executive pleads to embezzlement | Arkansas Blog

Friday, September 19, 2014

Former insurance executive pleads to embezzlement

Posted By on Fri, Sep 19, 2014 at 6:16 PM

John Mathis Lile III, 56, former president of the now-defunct Cosmpolitan Life Insurance Company, has pleaded guilty to theft or embezzlement in connection with health care, the U.S. attorney's office announced this evening.

Lile's business managed self-insurance health plans for small businesses in Arkansas. He admitted today at a plea hearing n federal court that he'd used a company credit card for thousands in expenses over three years, including family vacations to Las Vegas, Destin, and Italy, restaurant supplies, cruises, tanning, Hannah Montana tickets, and outlet shopping, among  others.

Mathis agreed in the plea deal to make full restitution and serve one year and one day in federal prison. In return, a related charge was dropped. The restitution amount has not been established. .

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