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A number of powerful players took a huge fall from grace this past year, while one iconic figure staged a major comeback in the midst of the financial meltdown that almost destroyed the biggest insurance titan of all–American International Group.

In late February, five former top executives with General Reinsurance and AIG were found guilty of 16 federal charges in a scheme to use a bogus finite reinsurance deal to help AIG falsely boost its financial standing. The biggest fish caught was Ronald Ferguson, Gen Re’s former CEO.

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