Chicago Insurance Executive Sentenced to Four Years in Federal Prison for Embezzling Nearly $6 Million From His Employer
CHICAGO — The former controller of a Chicago-based insurance company has been sentenced to four years in federal prison for embezzling nearly $6 million in company funds.
From October 2018 to June 2020, KEVIN J. MIX authorized approximately 42 wire transfers totaling more than $5.8 million from Insureon to his personal bank accounts and the accounts of shell companies that he created. At the time, Mix was Insureon’s controller and responsible for managing the company’s accounting operations. Mix attempted to conceal the fraudulent transfers by making false entries in the company’s records, creating fake emails, and making false statements to company representatives and the company’s bank.
Mix used the stolen money to purchase, among other things, several real estate parcels in the Chicago area and Ohio, Mercedes-Benz and Audi automobiles, multiple diamonds and gold bars, and membership for a private charter jet service.
Mix, 43, of Chicago, pleaded guilty last year to a federal wire fraud charge. In addition to the prison term, U.S. District Judge Joan Humphrey Lefkow on Tuesday ordered Mix to pay $5,845,427 in restitution.
The sentence was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; and Emmerson Buie, Jr., Special Agent-in-Charge of the Chicago Field Office of the FBI. The government was represented by Assistant U.S. Attorney Matthew Schneider.