A government witness, who has implicated five executives in an American International Group accounting fraud, admitted on the witness stand today that he had a history of lying to investigators.
John Houldsworth, a former chief executive at Cologne Re Dublin, a subsidiary of General Reinsurance, made his admission under cross-examination by defense attorney Reid Weingarten, who represents Elizabeth Monrad.
Ms. Monrad, Gen Re's former chief financial officer, is on trial with Ronald Ferguson, former Gen Re chief executive officer; Robert Graham, former Gen Re senior vice president and counsel; Christopher Garand, a former Gen Re senior vice president and Christian Milton, former AIG vice president for reinsurance.
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