Hi,
The Fraud Trial of five executives, four from General Re Corporation, and one from A.I.G begin Monday January 7, 2008. The five executives are accused of conspiring to create a sham transaction that inflated A.I.G.’s loss reserves by $500 million in 2000 and 2001.Both Mr. Warren Buffett and Maurice R. Greenberg is not a defendant. The trial is expected to last about two months.
General Re Corporation is a reinsurance unit of Berkshire Hathaway. General Re Corporation was acquired by Berkshire Hathaway in December of 1998.
For more information about the trial please view the following links:
Reuters: US Trial of Ex-Gen Re, AIG Insurance Execs Begins
The New York Times: Fraud Trial Focuses on Insurance Giants
The Associated Press: Trial Opens for 5 Former Insurance Execs
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