Rutland Herald
Bonney Hebert, 59, waived her right to indictment and entered the guilty pleas in federal court in Connecticut to one count of wire fraud and engaging in monetary transactions in property derived from specified unlawful activity, according to Connecticut U.S. Attorney Deirdre Daly.
The charges carry a maximum of 30 years in prison. A sentencing hearing is scheduled for Aug. 27.
No information on the case was available Tuesday from the federal judiciary’s online document filing system, but Daly’s office outlined the case in a news release.
The release described Hebert as sole owner and president of Academic Risk Resources and Insurance, a Boston-based risk management and insurance brokerage company.
The company’s business included brokering contracts between health insurance providers and colleges, covering students and people affiliated with the school.
One such contract was between Rutgers University in New Jersey and Aetna Life Insurance Company, based in Hartford, Conn., starting in July 2007. Rutgers paid premiums to ARRI, which was then supposed to pass them on to Aetna.
However, $10,358,728 in premiums paid between 2009 and 2012 failed to get to Aetna, according to Daly. She said Hebert used the money on “personal expenses” and to cover ARRI’s business costs.
Prosecutors said Hebert disclosed her activities to representatives of Aetna in June 2012, and then sold ARRI, having the payments turned over directly to Aetna as restitution. The release said Hebert forfeited $900,000 in commissions Aetna owed her, leaving $7,846,305 for her to pay in restitution.
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