Former Gen Re Exec Garand Sentenced to 1 Year in Prison

HARTFORD, Conn. - A Connecticut federal judge has sentenced former General Re Corp. executive Christopher Garand to one year 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.).

In a March 4 order, U.S. District Judge Christopher F. Droney of the U.S. District Court for the District of Connecticut also ordered two years of supervised release.

Last fall, Judge Droney ruled that the loss portfolio transfer (LPT) transaction between AIG and Gen …