Business Services Industry
Gen Re charges expanded; Prosecutors indict another former executive.(Christopher P. Garand of General Re Corp.)
Business Insurance, September, 2006 by Parekh, Rupal
Byline: RUPAL PAREKH and MARK A. HOFMANN Another former General Re Corp. executive has been indicted on criminal fraud charges as part of U.S. officials' probe into sham reinsurance deals allegedly struck between American International Group Inc. and Berkshire Hathaway Inc.'s Gen Re unit to help boost AIG's loss reserves in 2000 and 2001.
A federal grand jury handed down the superseding indictment Wednesday in a New Haven, Conn., U.S. district court, charging Christopher P. Garand-who served as senior vp and chief underwriter for Gen Re's finite reinsurance operations from 1994 to 2005-with a total of 10 counts of conspiracy, securities fraud, mail fraud, and making false statements to the Securities and Exchange Commission for his alleged role in the...
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