A former Blue Cross & Blue Shield of Rhode Island employee was arrested Thursday by the state police and charged with embezzling about $723,000 from 1995 until his retirement in April 2003.
Vincent J. Bottoni Jr., 71, of Johnston, served as cash receipts manager at the health insurance company, the police said. He worked there for 30 years.
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The State Police Financial Crimes Unit launched a month-long investigation of Bottoni after receiving a complaint from Blue Cross Blue Shield’s outside counsel. Company officials had discovered a large discrepancy in the cash receipts department and hired external auditors to perform a thorough audit of their financial records. Internal auditors and police detectives gathered additional records to supplement the external audit.
Bottoni was processed at state police headquarters and arraigned in District Court, Providence. Bail was set at $50,000 personal recognizance.
