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US jury finds former insurance executives guilty in financial statement manipulation scheme

US jury finds former insurance executives guilty in financial statement manipulation scheme

A federal jury has found five former insurance company executives guilty of a scheme to manipulate the financial statements of the world's largest insurance company.
Monday's verdict came in the seventh day of jury deliberations following a monthlong trial in federal court.
The defendants were four former executives of General Re Corp. and a former executive of American International Group Inc. They were accused of inflating AIG's reserves through reinsurance deals by $500 million in 2000 and 2001 to artificially boost its stock price.


Updated : 2021-04-14 05:02 GMT+08:00