Wednesday, December 17, 2008
Former GenRe CEO Sentenced In Fraud Case
Ronald E. Ferguson, 66, of Fairfield, Connecticut, the former CEO of GenRe Corporation, a unit of AIG, was sentenced to 2 years in prison plus ordered to pay a $200,000 fine yesterday for his role in perpetuating a fraudulent conspiracy to fraudulently inflate the value of AIG stock. See FraudTalk's earlier post on this story here. Ferguson had been convicted by a jury on February 28, 2008 on charges of conspiracy, securities fraud, false statements to the SEC and mail fraud. His co-conspirators, Christopher P. Garand, Elizabeth A. Monrad, Robert D. Graham and Christian M. Milton were also found guilty in the case.
Read the DOJ announcement here.