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Industry: Email Alert RSS FeedBuffett could testify against ex-underlings.(Briefing)(Berkshire Hathaway Chairman Warren Buffett will testify in a federal trial against five former insurance executives )(Brief article)
Best's Review, January, 2008 by Dankwa, David
Berkshire Hathaway Chairman Warren Buffett will likely testify in a federal trial against five former insurance executives accused of devising a fraudulent finite reinsurance transaction between American International Group Inc. and General Reinsurance Corp.
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The billionaire investor, the third-richest man in the world, is on the government's newly disclosed witness list, along with former AIG Chairman Frank Zarb and equity analyst Jay Cohen of Merrill Lynch. Other current and former AIG and Gen Re executives also are on the list.
Ever since investigators began combing through financial records of Gen Re and AIG for clues into a $500 million finite re transaction that purportedly carried no real risk, Buffett has been...
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