The defense rested on Feb. 7 in the federal securities fraud trial charging that four former executives from General Reinsurance and one from American International Group used a bogus finite reinsurance deal to artificially inflate AIG's reserves and financial results, and thus misled analysts and investors.
Defense attorney motions and discussion of what the judge should put in his charges are expected to delay the case going to the jury until later this week in U.S. District Court for the District of Connecticut.
The five defendants--none of whom took the stand during the five-week trial--were charged in a 16-count federal indictment with violation of federal securities law, securities fraud, mail fraud and making false statements to the U.S. Securities and Exchange Commission.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
