Broker Scandal Spurs Three More Guilty Pleas Marsh managing director, two AIG employees bring Spitzer total to nine mea culpas

When Marsh & McLennan Companies Inc. announced an $850 million settlement in response to allegations of bid-rigging and contingency fee abuse two weeks ago, New York Attorney General Eliot Spitzer warned that the six guilty pleas produced by his probe of parties suspected of defrauding risk managers would not be the last.

Last week, Mr. Spitzer made good on his promise, as a senior executive at Marsh brokerage and two American International Group employees pleaded guilty last week to criminal charges resulting from his investigation.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.