Deal includes promise to testify against AIG; SEC suit targets Greenberg

Two former reinsurance company executives from the same corporate family entered guilty pleas last week in federal court involving charges that they helped facilitate a phony accounting scheme at American International Group. Both are cooperating in various probes of AIG's bookkeeping.

In the first plea filed, John Houldsworth, a former chief executive at Cologne Re Dublin, pleaded guilty to federal criminal conspiracy charges and agreed to testify against management at AIG.

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