April 23, 2017

Williston man sentenced to six years3/19/09

March 19, 2009

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

Federal prosecutors say Kenneth MacKay, 37, admitted that he came up with a 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 the March 10 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.

— The Associated Press

 

Comments

  1. youngvt says:

    I am writing in response to Mr. Hoxworth’s article on transportation costs for the poor in Vermont. I would like to suggest further research on this topic before we simply just give another handout or tax credit. The poor, may, have a higher disproportionate burden on their transportation costs than the wealthier residents of Vermont; however, they also have a lower disproportionate burden on taxes and housing. Pick your evil.
    We can simply just give every poor Vermonter an energy efficient car, gas card, free tuition, renter’s rebate, etc.…but the only way out of poverty is through the combination of education, hard work, and discipline. Education and degrees are not handed out or purchased; a person has to EARN them. This seems to be the only way out of poverty—sorry, there are no shortcuts.
    If we continue this trend of enabling, our entire state will be a welfare state.

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