STORY FROM: Reinsurance & Arbitration
Ferguson Sentenced to Two Years, Fined $200,000
December 16, 2008
HARTFORD, Conn. - A Connecticut federal judge today sentenced former General Re Corp. chief executive officer Ronald E. Ferguson to two years in prison and fined him $200,000 for his participation in a fraudulent scheme involving General Re Corp. and American International Group Inc. United States of America v. Ronald E. Ferguson, et al., No. 06-137 (D. Conn.).
The Dec. 16 order was issued by U.S. District Judge Christopher F. Droney of the U.S. District Court for the District of Connecticut.
In October, Judge Droney ruled that the loss portfolio transfer (LPT) transaction between AIG and Gen Re caused more ...