Wilton, Conn.-based Employee Benefit Solutions CFO Erin Verespy has been sentenced to 66 months in prison for her role in a $33 million fraud scheme.
Employee Benefit Solutions offered a variety of healthcare insurance-related services to clients, according to a March 28 Justice Department news release. Services included third-party healthcare claims administration to clients that elected to self-insure their employee healthcare plans.
In her role as CFO, Ms. Verespy helped manage a scheme to steal millions of dollars of client healthcare funds, including the use of false and inflated invoices, according to the Justice Department. The scheme took place from at least July 2017 through 2019. Ms. Verespy also defrauded lenders out of millions.
She was sentenced after previously pleading guilty to conspiracy to commit wire fraud and bank fraud. She also was ordered to pay more than $16 million in restitution and forfeit more than $1 million to the court.