Five former insurance executives tied to American International Group face up to life in prison under a financial manipulation scheme.
The potential lengthy prison terms are the result of a federal judge’s ruling that AIG shareholders lost more than $500 million under the scheme.
The ruling was issued by Judge Christopher Droney in New Haven, Conn. The guideline range and a sentencing date have not been set yet.
Four former executives of General Re Corp. and a former executive of AIG were convicted in February of conspiracy, securities fraud, mail fraud and making false statements to the Securities and Exchange Commission.
General Re is part of Berkshire Hathaway, which is led by billionaire investor Warren Buffett of Omaha, Neb.
Topics AIG
Was this article valuable?
Here are more articles you may enjoy.
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
