Insurance broker sentenced to three years for stealing $10M from Aetna

An insurance broker from a popular Vermont ski destination will spend three years in prison for stealing millions in insurance premiums that were supposed to be transferred to Aetna.

In June, Bonney Herbert was convicted of stealing $10 million in premiums paid by Rutgers University, based in New Jersey, to Aetna between 2009 and 2012, according to the Connecticut Post. Herbert, who lived in Killington, Vermont, was the sole owner of Academic Risk Resources and Insurance Inc. (ARRI), which negotiated contracts between insurance agencies and universities. Insurance premiums paid by Rutgers were transferred through ARRI, which Herbert diverted for her own use, and to pay for ARRI's "business expenses." Article