Gen Re Defendents Denied Motion to Overturn their Guilty Convictions
On Thursday, a Connecticut federal judge Thursday denied a motion to overturn the convictions of five former executives of General Re Corp. and American International Group Inc. found guilty in March of helping AIG inflate its loss reserves with a bogus reinsurance deal.
U.S. District Judge Christopher Droney also denied a motion for a new trial for the executives: former Gen Re Chief Executive Officer Ronald Ferguson; Christopher Garand, former Gen Re senior vice president in charge of U.S. finite underwriting; Robert Graham, former Gen Re senior vice president and legal counsel; Elizabeth Monrad, former Gen Re chief financial officer; and Christian Milton, AIG’s former vice president of reinsurance.
In March a jury convicted the defendants on all charges against them, including conspiracy, securities and mail fraud, and making false statements to securities regulators.
Published on May 19, 2008
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