Vermont Man Sentenced to 6 Years for Embezzlement

March 12, 2009

A Williston man has been sentenced to nearly six years in prison for embezzling millions of dollars from a captive insurance manager where he was a senior vice president.

Federal prosecutors say Kenneth MacKay, 37, admitted that he came up with scheme to defraud Willis Management and others of $5 million.

He used the money to build a $1.9 million home, pay about $240,000 into college tuition savings plans for his five children, and buy a condominium in Florida.

At Tuesday’s sentencing, Chief Justice William Sessions III ordered him to pay $5.3 million in restitution. Prosecutors say MacKay has already forfeited $4.24 million, including the college fund, home and condo.

Information from: The Burlington Free Press

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