Former insurance executive gets a year in federal prison for embezzlement | Arkansas Blog

Wednesday, July 22, 2015

Former insurance executive gets a year in federal prison for embezzlement

Posted By on Wed, Jul 22, 2015 at 2:57 PM

John Mathis "Matt" Lile III, 56, has been sentenced to a year and a day in federal prison for embezzling more than $100,000 while president of the now-defunct Cosmopolitan Life Insurance Company, which managed healthcare plans for small business.

Lile pleaded guilty last September. At the time he admitted using a company credit card for personal expenses, including trips to Las Vegas, Florida and Italy, restaurant supplies, luxury cruises, tanning salons, Hannah Montana concert tickets and outlet mall shopping sprees. Federal Judge Susan Webber Wright ordered Lile to make restitution of $118,500 to the company, which is in receivership. He also must serve three years of supervised probation.

U.S. Attorney Chris Thyer's office announced the sentencing.

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