No.
You are correct that the kinetic energy is equal to the change in the potential energy, $mgh$, where $h$ is the distance fallen, but because the object is accelerating $h$ is not simply velocity times time. If the object starts at rest then (ignoring air resistance):
$$h = \frac{1}{2} g t^2 $$
so substituting this into $mgh$ gives:
$$E_{kinetic} = \frac{1}{2} m g^2 t^2 $$
Note that $gt$ is just the velocity at time $t$, so this expression is the same as:
$$E_{kinetic} = \frac{1}{2} m v^2 $$
which may look familiar :-) Note however that the velocity $v$ is a function of time.